| NEW YORK
NEW YORK Jan 30 Organix Hair Care, a maker of
haircare products, is up for sale in a deal that could be worth
$800 million or more, according to three sources familiar with
Organix's owner, Florida-based haircare company Vogue
International, is being advised by Goldman Sachs on the
potential sale, according to the sources, who declined to be
identified since the talks are private.
Organix, which sells shampoos, body washes and lotions, has
about $80 million in annual earnings before interest, taxes,
depreciation and amortization (EBITDA), said the sources. Based
on multiples of other deals in the personal care industry, the
sources said Organix would hope to fetch $800 million or more.
First-round bids for the company were due earlier this
month, one of the sources said.
Logical buyers could include French beauty products maker
L'Oreal or Unilever, owner of the TRESemme
and Sunsilk brands, and Procter & Gamble, which owns the
Pantene and Wella haircare brands, the sources said.
Beauty brands have been a tough sale recently.
While private equity firm Casanea Partners was able to
unload makeup company Urban Decay Cosmetics to L'Oreal late last
year, other brands like skin care company Perricone MD were on
the block but unable to find homes.
Vogue International, which also owns the FX Special Effects
line of hair styling and treatment products and the iWater
Shower Purification System, was not immediately available for
comment. L'Oreal, Unilever and P&G were also not immediately
available. Goldman declined to comment.