Castanea Partners acquires majority stake in Urban Decay

NEWTON, Mass. Private equity firm Castanea Partners has acquired a majority stake in cosmetics brand Urban Decay, whose products are sold primarily through such specialty beauty retailers as Sephora, Ulta and higher-end department stores.

Financial terms of the acquisition from The Falic Group were not disclosed.

"Urban Decay is a great example of the types of entrepreneurial, growth-oriented businesses we seek to invest in at Castanea Partners," stated Brian Knez, co-managing partner of Castanea Partners.

Founded in 1996, Urban Decay has more than 300 color cosmetic SKUs in all major cosmetic categories with its largest category in eye products.

Castanea stated that it will support the company as it continues to strengthen the brand, broaden its existing product line and expand into new markets. Tim Warner, Wende Zomnir and Eric Jimenez will continue in their current role as GM, co-founder and executive creative director, and worldwide retail director and international make-up artist, respectively.