Marc Anthony Cosmetics acquires Cake Beauty
Marc Anthony Cosmetics has its headquarters in Concord, Ontario, Canada. The business as it exists today was founded in 2016, according to a company overview on bloomberg.com. But Marc Anthony himself and the team behind the brand have been in business much longer than that.
In 1995 he launched the first Marc Anthony True Professional product and has since built that brand into a full portfolio of hair care and hair styling products.
Now the company is growing by acquisition: “I am beyond excited that Cake Beauty has become part of the Marc Anthony family. The customer-centric approach to beauty that we both share makes this the perfect addition to the Marc Anthony portfolio of brands,” Marc Anthony, the company’s founder and current CEO, tells the press. “I look forward to collaborating creatively with Heather and the Cake team and introducing this innovative, high-quality brand to our global customers.”
Far and wide
By acquiring Cake Beauty, Marc Anthony Cosmetics is expanding its consumer base within Canada and simultaneously leveraging the company’s international reach to take Cake global. A press release about the deal explains that Cake will now have the support of the Marc Anthony Cosmetics’ global sales team, will benefit from the company’s existing retailer relationships, and will be able to take advantage of the company’s global operations model.
According to the release, “This partnership further drives Marc Anthony's commitment to the beauty category and brings a wider array of options to the market that not only hit on current trends but fill a specific need for consumers in both price-point and benefit.”
Above and beyond
Heather Reier founded Cake in 2003. And at present, the brand’s loyal consumers find her products on the Cake Beauty site and at Shoppers Drug Mart locations across the country.
The brand’s product portfolio centers on hair care and personal care, including products like, dry shampoos, a dry conditioner, dry styling products, body lotions, body scrubs, fragranced body mists, etc.
“Building Cake from the little company started in a kitchen to the beloved brand it is today has been the ride of a lifetime - and the natural next step for Cake is international expansion,” says Reier in the press release about the acquisition.
“In Marc and his team, I have found like-minded partners to build on what we've accomplished and look forward to bringing the brand to customers worldwide,” she says, adding, “I'm so pleased to be working with them and thrilled to start this journey as one team.”
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.
