1 Min Read |
- Hair care brand seeks to raise as much as $196 million
- TA Associates purchased Marc Anthony in 2016 for $181 million
Marc Anthony Cosmetics, founded by its namesake celebrity hair stylist more than two decades ago, has hired advisers to run an initial public offering aimed at raising as much as C$250 million ($196 million), according to people familiar with the matter.
Canada’s largest independent hair care brand plans to file for its IPO as soon as next week, said one of the people, who asked not to be identified because the matter is private.
U.S. private equity firm TA Associates Management acquired Marc Anthony in 2016 for about C$230 million. Marc Anthony expanded its beauty business this year by acquiring Canadian hair and skin care company Cake Beauty.
A representative for Marc Anthony, based in Concord, Ontario, wasn’t immediately available for comment. A TA Associates representative declined to comment.
Marc Anthony was founded in 1995 by celebrity hair stylist Marc Anthony Venere and sells a variety of hair and body care products in 25 countries, according to its website. His salons’ celebrity customers have included Hilary Swank, Ellen Page, Freida Pinto and Eva Longoria, as well as Justin Bieber and Harrison Ford, according to a 2015 statement.
By Scott Deveau and Kiel Porter for Bloomberg
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