High Ridge has purchased the rights to the soap and body wash brand in the US, Canada and the Caribbean markets.
Non-executive chairman at High Ridge Brands and managing partner at Brynwood, Dario Margve, explained the company planned to re-energize the brand.
Platform for investment
"We believe that this will be a great new platform investment for our firm and look forward to not only bringing renewed attention and energy to the great Zest brand but to also adding complementary brands to the company in the future," he said.
The company will be based in Stamford, Connecticut, with Brynwood owning the majority.
The Zest brand was launched in 1952 by P&G and is recognized for its fragrances, and its "Zestfully Clean" advertising campaign.
Zest's products are widely distributed in the acquired markets and Brynwood Partners states it remains very popular among consumers.
Personal care a 'proven' area
"We are excited to be investing in the personal care space again as this has proven to be a very good area for our firm," said Hendrik J. Hartong III, senior managing partner, Brynwood Partners.
Brynwood Partners claims it has a strong track record in the personal care space having traded in the market previously with another portfolio company, JB Williams.
JB Williams was known for its brands Aqua Velva, Cepacol, Brylcreem and Lectric Shave. It ended up being divested to Combe Incorporated generating a significant return on invested capital for Brynwood.