Zest acquisition bubbles up

A new portfolio company has kicked off the new year with a fresh deal involving Zest.

Greenwich, Conn.-based Brynwood Partners VI announced this week that its newly formed portfolio company, High Ridge Brands, has acquired the Zest brand from Procter & Gamble.

High Ridge now owns Zest in Canada, the United States and Caribbean. P&G retains the brand in Latin America, the Middle East and the Philippines.

"We are keeping Zest in countries where it continues to play a strategic role in the regional portfolio," Jay Gooch, associate director of external relations for P&G Beauty & Grooming, told Canadian Grocer. "For example, Zest is the leading personal cleansing brand in Mexico."

P&G may not see much strength in the 59-year-old Zest brand in Canada and the U.S., but Dario Margve, managing partner of Brynwood VI, thinks Zest hasn't lost its soapy appeal with consumers.

"We look forward to not only bringing renewed attention and energy to the great Zest brand but to also adding complementary brands to the company in the future," Margve said in a release.

Brynwood Partners has investments in other personal care brands as well, including Aqua Velva, Brylcreem, Cepacol and Lectric Shave.