Amika and Eva NYC are hair care brands with candy-colored packaging, and now they have something else in common—a new owner. Bansk Group, a consumer-focused private investment firm dedicated to building distinctive consumer brands, today announced it has agreed to acquire a majority stake in the two indie brands.

Amika, which relaunched its packaging in 2018, is one of the largest independent haircare brands in the U.S., Bansk Group states. According to a representative, Amika will receive the ‘Clean at Sephora’ seal later this year—becoming only the third haircare brand to earn the distinction. (And in 2020, Amika’s diversity campaign attracted attention.)

Chelsea Riggs, brand president, Amika, says, “Since inception, amika has pushed the boundaries of beauty to create the very best products that are also accessible, responsible, and beloved by both professionals and consumers. We are confident that the brand will continue to excel with Bansk’s support and guidance.”

Eva NYC is one of the fastest-growing masstige haircare brands in the U.S., according to Bansk Group. Its eye-catching aluminum packaging is 100% recyclable, and its products are certified cruelty-free, vegan, non-GMO, and free of controversial ingredients. Also, both brands are also Climate Neutral Certified. (Eva NYC’s Chameleon Color Sprays debuted a few years ago.)

Jane Moran, brand president, Eva NYC, adds, “Today’s announcement is a testament to our steadfast commitment to creating a high-quality product and sustainability-focused brand that our consumers love…We look forward to our new partnership…”

What Happens Next?

Upon the close of the transaction, Amika and Eva NYC will continue to operate as individual brands under their respective brand presidents, Chelsea Riggs and Jane Moran.

In partnership with Bansk Group, the brands will seek to expand their reach across customers, channels, and geographies, while continuing to be industry leaders in sustainability, efficacy, and innovation. 

Chris Kelly, partner at Bansk Group, comments, “We are excited to partner with brands that share our vision for the future of the beauty and haircare industry.”

Kelly continues, “Consumer interest in high-quality haircare has accelerated in recent years, following the premiumization trends we have seen in other beauty and personal care categories. Today’s haircare consumers are increasingly passionate and educated about the quality of the haircare products they use – and how those products are formulated – driving exciting growth opportunities in prestige and masstige hair.”

Kelly adds, “Both Amika and Eva NYC have built distinctive brands founded on proven efficacy, sustainability, and inclusivity, and are leaders in driving and celebrating innovation and diversity – well positioning them to capture this growth.”

Both brands are also Climate-Neutral-Certified, and will continue to focus on sustainability initiatives. Terms of the transaction were not disclosed. 

Photos: via Instagram @amika and @evahairnyc