Exit Strategies Advises Vege-Kurl on Sale to Private Equity group

Exit Strategies Group is pleased to announce that its client Vege-Kurl, Inc., a manufacturer of high-quality personal care products, has been acquired by private equity group Hemingway Capital.

Founded in 1959, Vege-Kurl Inc. and its subsidiary Joar Labs is a private label contract manufacturing partner and formulator of high quality organically certified efficacious cosmetic, cosmeceutical, health & beauty, and household products. The company provides a wide variety of products such as shampoos, conditioners, hairsprays, serums, permanent waves and relaxers. Vege Labs specializes in skincare treatments, creams and lotions, alcohol-based products such as colognes and fragrances, plus spa and esthetics products and botanical extracts. It has an inhouse FDA approved R&D OTC Laboratory.

“After decades in the business, owners/executives Eric Huffman and Joe Desens wanted a path to retirement and to find a new owner that was capable of building on their legacy and providing rewarding careers for their loyal and dedicated staff,” said Bob Altieri who led this engagement for Exit Strategies Group.

Exit Strategies represented Eric and Joe through all phases of the sale process, from pre-market assessment and sale planning, to deal book preparation, target buyer identification, confidential outreach and marketing, obtaining bids, negotiation, due diligence and closing. We secured several good offers for our client and Hemingway Capital ultimately provided the right combination of price, terms, capital and business plans.

Hemingway Capital teamed with a seasoned industry executive to take over the CEO role. CVF Capital Partners provided financing acquisition and expansion capital.

If you would like more information about Exit Strategies Group’s M&A advisory or business valuation services, contact Bob Altieri at boba@exitstrategiesgroup.com. Deal terms will not be disclosed.