Elevation Labs Acquires Boomerang

Elevation Labs has acquired beauty manufacturer Boomerang Laboratories to diversify its geographic and merchandise range. Terms of the deal were not disclosed. Founded in 1999, Boomerang was previously acquired by private label and contract manufacturer Guy & O'Neill in 2020. Boomerang operates a 75,000-square-foot factory in Spring Park, Minnesota.

Founded in 1995 and acquired by private equity firm Knox Lane in 2022, Elevation Labs is located in a 260,000-square-foot facility in Idaho Falls, Idaho. The company acquired manufacturer Colorado Quality Products in 2018, expanding its operations to Denver, where it currently has a 160,000-square-foot facility.

Elevation Labs specializes in skin care, hair care, makeup, body care and over-the-counter products, particularly in the clean beauty space. Boomerang specializes in skin care, hair care, personal care and lightweight household cleaning products. Boomerang serves about 25 brands, about 100 fewer than Elevation Labs, said Amy Hart, chief innovation officer at Elevation Labs.

"It's a smaller, growing team that's very scrappy but very good at producing high-volume products in a very competitive way, and we don't really do simple household cleaning work in our factories," Hart said. "They can make tableware products and pet products, so we're adding more capabilities that we don't have at other locations."

Elevation Labs is working to grow its share of customers, and the purchase of Boomerang could further that goal. "We just got off the phone with a customer at Boomerang who has been looking to fill squeeze tubes. Boomerang doesn't have that capability right now, but we do have that capability at our other locations," Hart said. "It offers options to handle problems that Boomerang cannot, while maintaining a high level of service and innovation."

Elevations Labs is still looking for assets to add to its portfolio. "It has to fit," Hart said. "It has to complement capabilities or geographies that we don't have and provide high quality and great customer service."