Canadian makeup brand, Nudestix has announced it has been acquired by a US-based private firm.
Details about the transaction, including the new parent company, were not disclosed. However, the partnership will provide Nudestix with operational and marketing support.
The brand was founded in 2014 by mother and daughter, Taylor and Jenny Frankel, both of whom will remain in their current roles.
"From this strategic partnership we’re getting the operational expertise, infrastructure, and resources to continue growing," the co-founders told The Business of Beauty.
Its products are sold in 30 countries, including the UK, EU, Australia and the Middle East.
A press release acknowledged recent “operational shifts” that saw Nudestix limit its marketing and inventory buys, but that the acquisition signals a new path to growth.
The brand received a minority investment from private equity firm Alliance Consumer Growth in 2015, and additional funding from Hilary Duff and Chelsea Handler in 2019.
You can shop Nudestix via Sephora in Australia, here.
Image credit: Nudestix
