L Catterton to acquire a majority stake in Beauty Industry Group.

L Catterton, a private equity firm, agreed to acquire a majority stake in Beauty Industry Group, a supplier of professional-grade hair extensions and other beauty & lifestyle products. HGGC reinvests in the company. Financial terms were not disclosed. "With more and more consumers around the world prioritizing hair extensions over any other beauty service, L Catterton's brand building expertise, operational know-how, and global resources will allow us to enhance our world class supply chain further, and reach more consumers who rely on high quality hair extensions every day. With the support of HGGC over these last several years, we have developed a premier portfolio of leading brands, and we could not be more excited about our Company's future with this partnership," Derrick Porter, Beauty Industry CEO.