Glansaol Said to Hire Financo to Explore Strategic Alternatives

Glansaol, the “strategic start-up” founded by former Revlon chief executive officer Alan Ennis in 2016, is said to have hired Financo to explore strategic alternatives. Sources with knowledge of the situation said the company is considering several potential options, including mergers and acquisitions, joint ventures or other partnerships, and that Glansaol has been approached by potential suitors. Industry sources said the business has between $100 million and $125 million in retail sales. Glansaol owns makeup brand Laura Geller, skin-care brand Clark’s Botanicals and makeup and skin-care brand Julep. It acquired all three in 2016 as part of Ennis’ plan to build a multibrand prestige beauty business with IPO potential. The business is backed by private equity firm Warburg Pincus. “I said, ‘I want to build a company,’ [Warburg] said, ‘Great, here’s a pot of money, let’s go build it,’” Ennis said, after Glansaol made its first acquisitions. Warburg declined to comment. Julep and Clark’s Botanicals are said to be growing, but sources indicated Laura Geller has struggled recently, though they noted the business has innovative products in the pipeline that haven’t hit the market yet. In April, Nancy Bernardini, who had been leading Shiseido’s Zotos International business, stepped in as ceo of the business, and

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