Skincare brand Byoma takes on new ownership by Bansk Group, securing a substantial controlling interest.
In a significant move, private equity firm Bansk Group has announced the acquisition of skincare brand Byoma. The acquisition, which was made from Yellow Wood Partners, marks a strategic expansion for Bansk's beauty portfolio.
Byoma, a French-founded skincare brand, has been making waves in the industry with its commitment to simplifying the skincare journey and delivering efficacious, prestige formulations at an accessible price point. The brand's products are currently available in various retailers, including Target, Ulta, Amazon, Urban Outfitters, and Shoppers Drug Mart.
Chris Kelly, senior partner at Bansk, praised Byoma, stating that it is redefining skincare, backed by science, led by purpose, and deeply connected to its community. Marc Elrick, founder and CEO of Byoma, will continue to lead the brand under Bansk's ownership, along with the existing leadership team.
The acquisition comes at a time when the global beauty sector remains relatively strong, despite uncertainties. According to a midyear report by Circana, mass beauty sales increased by 4%, and prestige grew by 2%. Fragrance was the top category for mass beauty sales.
This move by Bansk Group follows other notable acquisitions in the skincare industry. Last year, American Exchange Group acquired skin care brand Indie Lee, and in May, E.l.f. announced the acquisition of Rhode, Hailey Bieber's beauty brand, for $1 billion. The terms of the Byoma acquisition were not disclosed.
The brand sees potential for growth with Bansk's partnership. Byoma's acquisition extends Bansk's beauty portfolio, which already includes hair care brands Amika, Eva NYC, and Ethique Beauty. Elrick expressed Bansk Group's shared values and growth ambitions with Byoma.
The U.S. skincare market is projected to generate revenue of $26 billion in 2025, with a compound annual growth rate through 2030 of 3.72%, according to Statista. Mass skin care sales were up by 4% in the first six months of the year, according to the same report.
Elrick noted that the partnership with Bansk unlocks an accelerated growth trajectory for Byoma. With Bansk's support, Byoma is poised to make a significant impact in the skincare industry.
