Chicago is My Home

03
Jun

Chicago Skin-Care Firm H2O Plus Acquired By Private New York Investors

Author: Adam Fendelman, Category: Business

CHICAGO – Skin-care products developer and retailer H2O Plus in Chicago said on Tuesday it has been acquired by the New York private equity group Cordova, Smart & Williams and the Goldman Sachs Urban Investment Group in a move that will expand the growing brand.

Founded in 1989 by Cindy Melk, H2O markets water-based, natural skin-care products in 18 countries and its annual sales exceed $100 million. The company maintains its flagship store at 600 N. Michigan Ave. in Chicago. Melk (who was the sole owner) will remain with the company as its chief creative officer.

Goldman Sachs managing director Kevin Jordan says the company holds huge potential and its new investors intend to build H2O into a global brand.

“Our attraction to this investment has been on the strength of the H2O Plus brand combined with the growth in the market for natural products such as the sea-based formulations that are at the core of the company’s products,” said Jordan in a Tuesday statement.

By Megan O’Neil