Marc Anthony Cosmetics Ltd. acquires Cake Beauty
Canada's largest independent hair care brand, Marc Anthony Cosmetics Ltd., announced on Monday the acquisition of Cake Beauty, a Canadian beauty brand whose products are 100 percent vegan and cruelty-free.
The acquisition will allow Marc Anthony to expand its beauty business through new products, while providing Cake Beauty with a global sales team, strong retail relationships and a global distribution channel and operation model.
"I am beyond excited that Cake Beauty has become part of the Marc Anthony family. The customer-centric approach to beauty that we both share makes this the perfect addition to the Marc Anthony portfolio of brands", said Marc Anthony, Founder and CEO, in a news statement. "I look forward to collaborating creatively with Heather and the Cake team and introducing this innovative, high-quality brand to our global customers."
Marc Anthony's brand identity is based on “salon-created, salon-approved quality hair care products”, while Cake Beauty offers skincare and hair care products in fun, vibrant packaging.
Toronto-based Cake Beauty is currently sold through Shoppers Drug Mart and both brands are available at a similar affordable price range.
"Building Cake from the little company started in a kitchen to the beloved brand it is today has been the ride of a lifetime - and the natural next step for Cake is international expansion", added Founder, Heather Reier.
"In Marc and his team, I have found like-minded partners to build on what we've accomplished and look forward to bringing the brand to customers worldwide. I'm so pleased to be working with them and thrilled to start this journey as one team."
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