BH Cosmetics announced today that the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") has approved the sale process for its intellectual property, inventory, furniture, fixtures and equipment, unexpired contracts and related tangible assets. BH Cosmetics is a leader in the color cosmetics and brush space, bringing cruelty-free, vegan, clean, colorful, and unique styles to the market.
The assets include internationally registered trademarks, domain names, a customer database of approximately 700,000 opt-in customer email addresses and more than 150,000 U.S.-based SMS text numbers, and social media accounts with a global audience of more than 6.5 million followers, as well as current inventory.
Bids for the assets are due February 11, 2022 at 12:00 p.m. Eastern, and an auction will be held on February 15, 2022 at 10:00 a.m. Eastern.
BH Cosmetics has entered into an agreement with RBI Acquisition Holdings, LLC to sell the intellectual property and certain inventory for $4,300,000, subject to adjustments as described in the asset purchase agreement. The agreement is subject to higher or otherwise better offers through an auction process.
Chief Restructuring Officer and Co-Chief Executive Officer Spencer Ware stated, "The agreement with RBI Acquisition Holdings, LLC puts us on track to achieving maximum value for our creditors and stakeholders while allowing for flexibility throughout the sale process."
Hilco Streambank Executive Vice President David Peress commented, "BH Cosmetics is known throughout the industry as having successfully activated a young and economically powerful audience." Peress continued, "As legacy cosmetics companies struggle to diversify and reach underserved segments of the market, the acquisition of the BH Cosmetics brand, which has meaningfully reached U.S. and European markets through both direct-to-consumer and wholesale channels, presents an exceptional opportunity to grow within the industry."
Interested parties should CLICK HERE or contact Hilco Streambank directly using the contact information provided below. The sale is being conducted on behalf of BH Cosmetics as a debtor in possession. The sale of the assets and Hilco Streambank's retention are subject to Bankruptcy Court approval.
To obtain additional information regarding the bankruptcy filing, including court filings, please click here.
About BH Cosmetics: Originally launched in 2009 in Los Angeles, California, BH Cosmetics brings the best in clean, vegan, cruelty-free cosmetics and other beauty products. BH Cosmetics' products are known to be colorful and fun, of high-quality at attractive price points. The brand stands for diversity and inclusion, female empowerment, sustainability, and civic engagement. BH Cosmetics products are available direct-to-consumer and at various retailers throughout the globe.
About Hilco Streambank: Hilco Streambank is a market-leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions, including sales in publicly reported transactions, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital equity investments.