Carlyle buys minority stake in haircare product maker Vogue for reported $800 mn

Private equity firm Carlyle Group yesterday agreed to buy a  minority stake in privately held haircare product maker Vogue International.

Carlyle did not disclose the terms of the deal, but people familiar with the matter told Reuters that the transaction could be valued at $800 million or more.

In January last year, Vogue International, one of America's leading manufacturer of hair care and personal care products, had hired Goldman Sachs to scout for buyers for its Organix Hair Care unit.

The proposed sale was called off after prospective suitors questioned the Organix brand prospect after its name was changed to OGX.

Vogue was forced to change the name in October 2013 after a lawsuit was filed in a California court claiming that Vogue used false and misleading marketing and advertising tactics by mislabelling Organix skin and hair care brands as organic since none of the ingredients were organic.

But despite the name change, sales of OGX continued to grow, as monitored by Carlyle.

Based in Florida, Vogue's branded products include the FX line of hair styling products, OGX collection of shampoos, conditioners and styling items, and OGX Bath & Body Collection.

Vogue's brands are sold at the world's largest retailers, both in the US and globally in 27 countries.

OGX Hair Care has a portfolio of over 70 products containing shampoos, conditioners and styling / treatment. It also owns FX Special Effects line of hair styling and treatment products and the iWater Shower Purification System.