Mineral Fusion is a leading natural brand that includes mineral-infused cosmetics and personal care products. The brand is sold at approximately 3,000 stores, including Whole Foods, as well as online.
Jon Canarick, managing director, North Castle, comments, "Our investment in Mineral Fusion reflects the benefits of focus and partnership as a means to growing small brands into leading companies. One example of the benefits of North Castle's focus was our ability to draw on Gil Pritchard, a North Castle Advisor and formerly the CEO of Avalon Organics, a former North Castle portfolio company, to lead this company. Many of our advisors and network played important roles in the successful development of Mineral Fusion."
Speaking on behalf of the brand's co-founder Tim Schaeffer and himself, Gil Pritchard added: "Our partnership with North Castle has spanned more than a decade and two North Castle portfolio companies. When we developed the idea to expand the Mineral Fusion brand, we believed that it was positioned to address the needs of consumers by delivering beauty without compromise through professional quality, naturally formulated products. North Castle supported our team through an extraordinary period of growth. We are very pleased Mineral Fusion found a home with BWX. Our companies are mission aligned and we are being encouraged to continue to pursue our passion and values."
Houlihan Lokey served as the exclusive financial advisor to Mineral Fusion and assisted in structuring and negotiating the transaction. Morrison Cohen LLP served as legal counsel to Mineral Fusion.