Starting from skincare to wellness: Better For You Wellness to acquire Mango Moi
02 May 2022 --- With a focus on natural skincare and wellness, Better For You Wellness (BFYW) has entered into a binding Membership Interest Purchase Agreement (MIPA) with Amanda Cayemitte, founder at Mango Moi and Yapo M’be, her business partner.
Mango Moi aims at inclusive beauty by providing natural products that turn away from “unrealistic beauty standards.” The products are reportedly handmade, vegan and non-toxic.
The business deal entails acquiring the “right, title and interest in, including all of the outstanding membership interests of Mango Moi located in Chicago, for the consideration and on the terms outlined in the MIPA,” notes BFYW.
Mango Moi is recognized for its inclusivity and representation to overcome insecurity about differences, especially compared to idealized beauty industry standards.
Notable ingredients for its products include mango butter, baobab oil, kukui nut oil, and murumuru butter.
Additionally, BFYW has entered into an employment agreement with Cayemitte and a consulting agreement with M’be. The deals ensure Mango Moi continues to grow according to its values.
Rapidly growing wellness industry
The wellness industry is said to be rapidly growing at US$1.5T, shares BFYW. “The global skincare market is projected to grow from US$100.13B in 2021 to US$145.82B by 2028,” says Ian James, CEO at BFYW.
BFYW is targeting plant-based and wellness brands, starting with skincare.
The company says: “Once the skincare vertical is established, BFYW intends to build and buy verticals targeting other wellness goals.”
The wellness industry is said to be rapidly growing at US$1.5T, shares BFYW.
“The Company’s pending acquisitions of multiple natural beauty brands are expected to synergistically combine, thus creating a diverse offering of natural products for wellness consumers at all price points,” adds James.
“As Better For You Wellness assembles its vertical of leading skincare companies, the Mango Moi acquisition will further bolster our approach to serving underserved demographics.”
Acquisitions for expanding inclusivity
Another recent acquisition themed on broader inclusivity brought Wella Company to take over Briogeo, “one of the largest independent Black-owned brands in the US.” The company seeks to speeden its growth to expand its environmentally sustainable portfolio and amplify its product diversity for different hair types while expanding its “clean and green products.”
The CEO’s of both companies are minority-identifying women leading the theme of the partnership.
Additionally, Helen of Troy’s subsidiary had acquired Recipe Products for US$150 million in cash. Recipe Products is known for producing Curlsmith products which are specifically designed for curly and wavy hair textures.
Edited by Venya Patel
