The deal is said to create the fifth largest cosmetics company in the US and the second biggest player in the nation’s ultra-competitive nail care category, while simultaneously expanding the business reach worldwide.
Leading nail care provider
“This transaction with the W.E. Bassett Company represents a merger of two strong global cosmetic accessory companies,” said Joe Fracassi, president and CEO of Pacific World.
“Pacific World has further solidified its leading portfolio of nail care solutions to enhance the shopping experience and provide a one-stop-shop for consumers through the Fing’rs, Nailene, Tim Brands,” he added.
The acquisition of the W.E. Bassett Company, which makes a series of accessories that include nail files, manicure and pedicure tools and tweezers, gives Pacific World a greater foothold on the fast-growing at-home nail care category, which has experienced significant growth in the light of the recent economic downturn.
Pacific World makes and supplies a broad range of nail and beauty products, including artificial nails, nail treatments, nail treatments, gels and acrylic systems, nail art and complete manicure kits that are marketed under the three brand names.
Building on significant market and business growth
The company has experienced significant growth in recent years, thanks to the combination of a series of acquisitions to expand the business, combined with market growth in the at-home nail care category.
The company has become a leading player in the nail care market through a series of acquisitions that began in 2005, when Pacific World bought Fing’rs US, the acquisition of Woodward Laboratories in January 2010, the acquisition of the European arm of the Fing’rs business in June 2011, and then the most recent acquisition of W.E. Bassett.
Likewise, the company’s growth has been fed by consumer demand. During the recession, shrinking incomes have led consumers to make spending cuts, which in the personal care arena has led to few trips to beauty salons.
Move towards at-home treatments fuels growth
Pacific World quotes market research data that underlines the fact that the US nail care category grew by 16.1 percent in 2010, a phenomenon that is mainly down to the fact that consumers have shifted to at-home treatments they can do themselves.
In line with this, the company is developing its portfolio around this growing trend and is planning the launch of SensatioNail, said to be one of the first ever at’home gel manicure systems on the market.
Pacific World says it plans to continue its expansion through further development of its brand portfolio, alongside the acquisition of other strategic businesses.