THE WHAT? Yellow Wood Partners’ portfolio company, Suave Brands has announced that it has completed the acquisition of the ChapStick brand from Haleon. As part of the deal, Haleon has become a shareholder in Suave Brands.

THE DETAILS Further terms of the deal were not disclosed. Dana Schmaltz, Partner at Yellow Wood Partners, commented, “We see strategic value in combining ChapStick with Suave and, as a result of this acquisition, we have expanded Suave’s capabilities and portfolio of products. Our brands have strong equity and a profitable organic growth strategy in place. The combined expertise and resources of Suave and ChapStick will enable us to better serve our customers and consumers and accelerate growth.”

THE WHY? Suave Brands Company Chief Executive Officer, Daniel Alter, said, “As we continue to build Suave Brands Company as the top independent North American beauty and personal care company by combining the agility of a start-up with the power of market leading brands, the addition of ChapStick is a perfect fit that augments our strategy. This transaction is a great example of Suave Brands Company’s disciplined approach to value-creating acquisitions and our larger growth strategy.”