The news comes only days after another one of Brynwood’s portfolio companies bought the rights to a number of personal care brands from Henkel.
"We are delighted to announce the acquisition of the Coast brand," said James Daniels, president and CEO of High Ridge Brands. "The Coast brand has a very loyal consumer following and we look forward to bringing renewed attention and energy to Coast."
"On behalf of Brynwood Partners and High Ridge Brands, I would like to thank the Henkel team for its partnership in closing the acquisition of the Coast brand," said Henk Hartong, senior managing Partner of Brynwood Partners, speaking after both acquisitions.
Connecticut-based High Ridge now owns the rights to the Coast brand, and will add it to a host of personal care brands in its portfolio, following a number of acquisitions last year.
Personal care focus
"We are excited to make another acquisition in the personal care space and to add to our very successful High Ridge Brands business,” said Dario Margve, managing partner of Brynwood VI and chairman of High Ridge Brands.
“In just over a year, we have created a leading personal care company with well-known consumer brands including Zest, Alberto VO5, Rave and now Coast. We will continue to manage our investment by growing all of these brands through renewed marketing and product innovation."
Originally launched in 1975, Coast is a personal cleansing brand, available in both bar soaps (Pacific Force and Arctic Boost) and body washes (Pacific Force and Urban Fuel).
Its products are widely distributed in the US through leading retailers in the food, drug, mass and dollar channels.
Brynwood Partners has now acquired 30 corporate brands from 13 different corporate sellers, including the Henkel acquisitions. Since January 2011, the firm has successfully completed the acquisitions of 14 corporate brands in five separate transactions.