Industry: Consumer Products – Beauty
Location: Port Washington, NY
The DVS Group Role: Buyside Advisory
The Buyer: New World Natural Brands
New World Natural Brands is dedicated to growing brands in the natural beauty and personal care space. The nügg acquisition complements the other acquisitions completed this year – including the Baetea and Baebody brands and the Suki Skincare brand.
Jim Watt, CEO of New World Natural Brands, said, “nügg is another fantastic addition to the New World Natural Brands portfolio of companies. This is a high-quality and innovative product line in a growing category with solid distribution. In addition, we strongly believe that the addition of Dr. Wittke and her team to the New World ecosystem will prove to be even more valuable than the products themselves.”
The Seller: nügg
nügg was started by Dr. Conny Wittke, an executive with long-term experience in the beauty industry, and her husband Thorsten Kothe with the mission to deliver top quality, simple yet powerful, natural & clean skin treatments at pocket-friendly prices and in pocket-friendly packaging. nügg face masks, lip treatments and “skin fizz” are sold at Target and Whole Foods stores as well as online.
Dr. Wittke said, “We are looking forward to joining the New World family and the infusion of resources that this partnership will bring to our beloved brand. We have great plans for nügg including an exciting rebrand and the extension into other natural skincare categories and joining forces with New World will give us the fuel we need to develop nügg to its full potential.”
The Deal:
Looking to make a move abroad, Dr. Wittke engaged a professional advisor to assist in the sale of nugg. Around the same time, New World sent a letter to Dr. Wittke to indicate interest in acquiring the brand, not knowing the company was represented for sale. Both parties placed a high value on fit and vision for the future. As conversations continued, it was clear there was alignment. The transaction closed on November 30, 2018.
“We are thrilled that New World has finalized their third acquisition of the year. As a DVS client for almost two years, it has been a pleasure to watch the New World team grow to become meaningful players in the natural beauty and personal care space.” -Ben Olsen, Managing Partner, The DVS Group
Read More: Press Release