Industry Leaders Combine to Drive Growth of Sunless Tanning
Cleveland, Ohio April 28, 2016: Sunless, Inc., which is owned by The Riverside Company, has acquired Norvell Skin Solutions, LLC.
“The acquisition of Norvell, which was finalized on April 28, 2016, establishes Sunless Inc. as the undisputed international market leader in the sunless tanning segment of the beauty industry”, said Peter van Niekerk, CEO of Sunless, Inc. “The two businesses perfectly complement each other, as Sunless, Inc. is the world leader in automated spray tanning systems, and premium self-tanning products under the VersaSpa® and Mystic Tan® brands, and Norvell is the leader in professional-applied spray tanning systems and enjoys a strong position in skin care with the Norvell® brand.”
“Serving loyal Norvell customers has been our family’s life and work for 39 years,” Rick Norvell, President of Norvell Skin Solutions, LLC. “We appreciate and have the utmost respect for the millions of loyalists who put us on the map and helped us become the leader we are today. We are very excited about the opportunity to grow the sunless tanning market. Sunless, Inc., and its principals, is the only team my family would entrust with the brand that bears our name. This brand embodies decades of commitment to quality products, education, and customer service, which Norvell customers have come to expect and deserve.”
According to Van Niekerk, “The customer benefits are compelling: the new organization offers our customers the very best in sunless tanning and related beauty products, drawing on the top skills and technology in formulation development, equipment design, manufacturing, branding and marketing. And the combined entity has the financial resources and ambition to drive exciting innovation and revenue growth in the self-tanner segment of the beauty market, across multiple channels and markets.”
Meranee Phing, a partner at The Riverside Company, added “The allure of a perfect bronze glow is timeless. This is an investment in the accelerating consumer trend toward UV-free tanning options, and the perfect time to leverage the brands’ leadership position and consumer trust into the beauty industry.”
The Sunless, Inc. and Norvell organizations remain focused on supporting and serving their respective brands and customers, while the company reviews how to optimize integration of the business. All customer contacts remain as they were prior to the acquisition. Rick Norvell will continue to lead the Norvell business as a member of the Sunless, Inc. leadership team, and members of the Norvell family continue in their current roles.
Please contact your current Sunless, Inc. and Norvell business representative with any questions, or visit www.SunlessInc.com.
ABOUT SUNLESS, INC.
Sunless, Inc. is the industry leader in premium UV-free tanning and related beauty products, marketed under the Mystic Tan®, Norvell® and VersaSpa® brands. Products are distributed worldwide in professional and beauty channels. The company is owned by the private equity firm, The Riverside Company, and operates from Cleveland, OH and Nashville, TN.
ABOUT THE RIVERSIDE COMPANY:
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 410 transactions. The firm’s international portfolio includes more than 80 companies, and assets under management exceed $4 billion.