Advent International acquires Brazilian hair care brand Skala Cosméticos

Global private equity fund Advent International has acquired Skala Cosméticos, a vegan hair care brand based in Uberaba, Minas Gerais, Brazil.

Founded in 1986, Skala is one of the fastest-growing brands in the Brazilian beauty industry, expanding by about 30% annually in recent years. It is the fourth largest hair care brand in Brazil and one of the leading brands in the hair mask category. According to Advent, Skala's products reach more than 45% of Brazilian households, and the company's products are exported to more than 40 countries.

The deal, whose financial details were not disclosed, will allow Skala to expand its manufacturing capabilities and distribution network and increase the brand's presence in international markets.

"Our partnership with Advent will help accelerate Skala's growth in domestic and international markets, while enabling us to advance important agendas such as operational excellence and innovation at scale," said Antonio Sousa, CEO of Skala for the past eight years.

As part of the transaction, Cyro Gazola will assume the role of CEO. Former Caloi President and CEO Cyro Gazola has extensive experience in the Brazilian consumer goods industry, including 22 years at Procter & Gamble.

Skala's current to executives — including former CEO Antonio Sousa, and Maria Claudia Lacerda and Publio Emilio Rocha – will remain as shareholders and join the company’s Board of Directors alongside Advent professionals and two other industry-experts, Alberto Carvalho, former CEO of Procter & Gamble in Brazil, and Andrea Mota, former Executive Director of O Boticário.

In beauty care, Advent's managed funds have invested in California hair care brand Olaplex; Orveon, a beauty group that includes bareMinerals, Buxom and Laura Mercier; and Parfums de Marly, a French fragrance company.