American Exchange Group (AEG) has acquired US beauty brand Indie Lee for an undisclosed sum.
The accessories and brand management specialist said it will accelerate Indie Lee’s business by expanding beyond skin care and via in-house expansions and licensing agreements.
Indie Lee founded her namesake brand in 2010, specialising in ‘clean’ skin and body care products.
Ancora, the US-led investment firm, acquired a majority stake in Indie Lee in 2017.
The omnichannel brand is now sold in more than 2,000 locations, primarily in North America, via retailers Blue Mercury and Ulta Beauty.
Oh My Cream and Naturisimo are among its UK stockists.
“Beauty and personal care are among the fastest-growing categories, and with this acquisition… [the] group is poised to become a dominant leader in the space,” said Alen Mamrout, CEO of American Exchange Group.
“We see a tremendous opportunity to develop Indie Lee’s direct-to-consumer business by leveraging American Exchange Group’s expertise and resources.
“We plan to expand Indie Lee products beyond skin care, both in-house and via licensing, and explore diffusion brands through licensing and brand expansion.”
Indie Lee’s product offering includes CoQ-10 Toner, Brightening Cleanser and Squalane Facial Oil.
“This partnership will enable us to reach new heights and bring our ‘clean’, effective beauty products to a wider audience,” commented Lee.
This is AEG’s second big beauty investment, having acquired LA beauty incubator Hatch Collective last year, which include brands NatureWell, Orlando Pita Play, Txtur and Paint & Petals.
As part of the deal, AEG renamed the company AX Beauty Brands.
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