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CITY OF INDUSTRY, Calif. — Markwins International plans to acquire beauty care brands Bonne Bell and Lip Smacker from Aspire Brands.
Markwins International plans to acquire beauty care brands Bonne Bell and Lip Smacker from Aspire Brands.
Financial terms of the deal weren’t disclosed. Markwins and Aspire Brands said they have agreed to close the agreement in February.
Bonne Bell’s products include an assortment of lip, eye and facial cosmetics, as well as makeup collections and accessories. Lip Smacker offers lip glosses and lip balms in a wide range of flavors and styles, including unique products under license with Coca-Cola, Mars, Paul Frank, Disney and other well-known brands.
Markwins noted that the addition of Bonne Bell and Lip Smacker will boost its appeal with the youth consumer market, a growing segment in the beauty arena. Markwins strategically adds the youth consumer with its imminent acquisition.
"The synergies of adding another mass beauty brand, focused in color cosmetics, fits wonderfully into Markwins’ current global operations," stated Bill George, president and chief operating officer of Markwins Beauty Products. "Bonne Bell and Lip Smacker add new consumers to our growing portfolio without any consumer cannibalization or crossover."
With Bonne Bell and Lip Smacker joining Markwins’ "masstige" brand Physicians Formula, entry-point brand wet n wild, ethnic brand Black Radiance, and its successful collection business, the company’s brand umbrella caters to beauty consumers of all demographics, including age, ethnicity, lifestyle, and preference.
"For Markwins, Bonne Bell and Lip Smacker will undoubtedly reach a new consumer and enhance our retail relationships," commented Eric Chen, chief executive officer of Markwins. "But on a personal level, Markwins’ brands have always aimed to connect with consumers in an intimate way. Bonne Bell is an industry icon, with a rich history dating back 87 years and with 94% consumer recognition. These numbers are staggering in our business, but the smiles the name alone brings to the faces of the consumers are much more impactful."
Other Markwins brands include The Color Workshop, The Color Institute and POP, along with many other internal brands and licensing deals. The company’s products brands can be found in more than 50,000 retail outlets — including department, specialty, mass, drug, and food stores — and are available in over 60 countries.
"Markwins has a proven track record of creating excitement and bringing innovation to the cosmetic category," stated Jess "Buddy" Bell Jr., founder of Aspire Brands, based in Westlake, Ohio. "They will bring the same excitement and innovation to the Lip Smacker and Bonne Bell brands. I am excited about the future of the Lip Smacker and Bonne Bell brands under Markwins ownership."
