The Greenwich private equity investment firm Brynwood Partners VI LP has announced an agreement in principle to sell High Ridge Brands Co. of Stamford to the Manhattan firm of Clayton, Dubilier & Rice for $415 million.
Formed in 2010 by Brynwood to purchase the Zest personal cleaning brand from Procter & Gamble, High Ridge has since acquired other personal care brands including the Alberto VO5 brand in the U.S. and the worldwide marketing and brand rights to the Rave brand from Unilever, the global rights to the Coast brand from Henkel, the White Rain brand from Sun Products of Wilton, Continental Fragrances, owner of the Salon Grafix and High Beams brands and other personal care brands from Newhall Laboratories.
The additional terms and conditions of the transaction, which is subject to regulatory approval, were not disclosed.
The deal is expected to close in this second quarter.
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