BOULDER,
Colo., May 5, 2022 /PRNewswire/ -- BFG Partners,
a venture capital firm specializing in early-stage consumer
products, completed the sale of Recipe Products, Ltd (d.b.a.
CURLSMTIH) to Helen of Troy (NASDAQ: HELE). CURLSMITH is a leading
provider of clean haircare products servicing customers with all
types of textured hair. CURLSMITH is led by founders, Michal Berski
and Kate Evans, who built the brand
on top of their combined experience in large scale CPG and
servicing individual salon clients. Today, CURLSMITH has five lines
of haircare products, catering to all those with textured hair from
loose waves to tight curls. Most recently, they have expanded their
haircare offering to include tools that reduce hair damage and
enhance natural texture.
Throughout its five-year growth, BFG Partners and Unilever
Ventures were the exclusive institutional capital partners to
CURLSMITH. "We were fortunate enough to partner with Michal, Kate
and the CURLSMITH team 18 months ago at a real inflection point in
the brand's growth. We saw their creativity and respect for their
customer base fuel thoughtful and speedy expansion across the
globe, with notable success in Ulta and in their DTC business,"
said Ben Fenton, Partner at BFG
Partners. Elizabeth Earle, Vice
President at BFG Partners, echoed a similar sentiment: "At BFG, we
felt particularly aligned with CURLSMITH's entrepreneurial spirit.
Their ability to create such an efficacious, community-driven and
high-growth brand with a lean and scrappy team is exactly the kind
of business we look for and hope to support."
On the brand's relationship to its board and investors,
CURLSMITH founder, Michal Berski, said: "From concept to
$150M dollar brand in just five years
– building CURLSMITH has been quite a ride, and I couldn't be
prouder of what we've achieved. Now it's time to find the right
home for our brand, and Helen of Troy are perfectly placed to do
that. But we couldn't have gotten here without world class
investors. My sincere thanks to BFG Partners for their belief in
the brand and strong partnership since 2020."
Financo Raymond James acted as exclusive financial advisor to
Curlsmith.
About BFG Partners
BFG Partners is a venture capital
firm that seeks partnerships with early-stage consumer product
companies whose products do better for people and the
planet. BFG aims to work alongside exceptional entrepreneurs
to foster sustainable growth and outperformance. Investments
range across consumer including categories such as food, beverage,
personal care, and beauty. . In addition to providing
portfolio companies with capital, BFG provides teams with the
advice most needed to make critical decisions and maximize
opportunities. This advice spans operational strategy, tactical
marketing, channel development, organizational design and capital
planning. BFG Partners is based in Boulder, CO. www.bfgpartners.com/
About CURLSMITH
Founded in 2017 and backed by BFG
Partners, CURLSMITH is a leading textured haircare brand. The
company embodies the belief that curls don't have to be complicated
and aim to take the guesswork out of clean haircare and embrace
true hair texture. With Curl Confidence as their north star, the
team's science-driven formulas draw on legacy recipes and
recognizable ingredients to include all the things curls love and
none of the stuff they hate. With five unique and complimentary
haircare lines, CURLSMITH embraces all types of textured hair.
Curlsmith is also on a journey to becoming a better business, with
focus on Curlsmith employees and partners, giving back to local
communities and reducing impact on the environment.
www.curlsmith.com
For further inquiries, please reach out to Meg Legro (meg@bfgpartners.com)
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SOURCE BFG Partners