Castanea Partners Acquires Urban Decay from The Falic Group

After acquiring Urban Decay from LVMH in 2002, The Falic Group has sold the cosmetics company to Castanea Partners. Terms were not disclosed. The Falic Group claims to have built annual sales by four times over the period of ownership. Urban Decay general manager Tim Warner told WWD in 2007 that the brand was on pace to hit $100 million in global revenues that year.

Robert Smith, co-managing partner of Newton, Mass.-based Castanea and former co-chief executive officer of the Neiman Marcus Group Inc. “When Urban Decay came along, we were attracted to it for a few reasons: one, it is a very distinctive brand and a leader in its category serving an edgier, younger customer and, two, it is really concentrated on building retail partnerships with its specialty retailers.”

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