Key Takeaways
- Bansk Group acquires a majority stake in Byoma, known for its science-based skincare.
- The brand will maintain its leadership under founder Marc Elrick.
- Partnership aims to accelerate Byoma’s growth and innovation in the skincare market.
Acquisition Announcement
Bansk Group, a private investment firm focused on consumer products, has secured a definitive agreement to acquire a majority stake in Byoma, a rapidly growing skincare brand recognized for its scientific approach. The deal involves Yellow Wood Partners, the previous stakeholders of Byoma. All operations will continue to be led by founder and CEO Marc Elrick along with the existing management team.
Founded in 2022, Byoma has carved a niche in the skincare industry by focusing on skin health, especially the skin barrier. The brand’s success is largely credited to its prestige formulations available at accessible prices, catering to a discerning consumer base. The strategic partnership with Bansk Group is expected to enhance Byoma’s growth trajectory and stimulate further innovation in its product offerings.
While the financial details of the transaction remain undisclosed, there are key advisory roles filled by notable firms. Raymond James represented Byoma in this deal, while Jefferies LLC served as an advisor to Bansk Group. Legal support was provided by multiple law firms, including Fried, Frank, Harris, Shriver & Jacobson LLP for Byoma and Kirkland & Ellis LLP for Bansk Group.
Chris Kelly, senior partner at Bansk Group, highlighted Byoma’s unique approach to skincare, stating, “Byoma is redefining what skin care can be–backed by science, led by purpose, and deeply connected to its community.” Kelly emphasized the brand’s ability to simplify the often confusing skincare landscape, offering effective and transparent products that resonate with modern consumers. This partnership is expected to expand Byoma’s reach and enhance its mission of delivering effective and community-focused skincare solutions.
Marc Elrick, the founder, expressed excitement about the partnership, noting that Byoma was built on the principle that many skin issues stem from a compromised skin barrier. He stated, “We created Byoma to offer products specifically formulated to strengthen and maintain the skin barrier whilst delivering transformational results.” Over the last three years, Byoma has established a strong presence as a key growth driver among the top five skincare brands in prominent retail markets, fostering trust and credibility with consumers.
This acquisition is seen as a turning point that unlocks new growth opportunities for Byoma. Elrick noted that Bansk Group’s understanding of today’s consumer landscape aligns well with Byoma’s values and ambition for growth. The partnership is poised to challenge and redefine the beauty industry, making Byoma’s innovative and barrier-boosting products more accessible to a global audience.
As Byoma continues to thrive in the competitive skincare market, its collaboration with Bansk Group will likely propel further advancements in product development and outreach, ultimately benefiting consumers who seek effective and purposeful skincare solutions.
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