The Business
Freeman Beauty ( is a Los Angeles, California-based developer and marketer of specialty beauty products with a portfolio of brands in the skin care, hair care, foot care and specialty bath and body categories. As a leader in the beauty industry for over 40 years, Freeman focuses on on-trend, nature inspired, pampering, high-performing products at an accessible price. Freeman’s iconic brands serve categories with explosive growth and include Feeling Beautiful, the #1 facial mask brand in the mass market. Freeman has a proven track record over the last several years of innovation across its portfolio of brands, which also includes Beauty Infusion facial masks, Psssst! dry shampoo, c.Booth bath and body care products, and Bare Foot foot treatments. Freeman’s brands are marketed in the food, drug, mass and specialty beauty retail sectors, in addition to e-commerce channels.


The Industry
Freeman participates in the U.S. skin care and hair care markets.  Within these markets, Freeman is a leader in the facial mask and dry shampoo segments, which rank among the fastest growing beauty and personal care categories. Strong demand growth for facial masks and dry shampoo is expected to continue due to rising usage frequency by consumers, growing consumer preference for natural beauty products, product efficacy vs. other skin and hair care alternatives, and new product innovation.


The Process
Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Freeman Beauty and Champlain Capital, a private equity firm with offices in San Francisco and Boston. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Yellow Wood Partners, a Boston-based private equity group focused on acquiring consumer brands. Prestwick’s process included private equity groups and both domestic and international strategic acquirers.