Gibson Dunn and Skadden, Arps, Slate, Meagher & Flom advised parties on the separation of fragrance brand Kayali from Huda Beauty. Kayali is to transition into an independent business through investment and partnership with private equity firm General Atlantic, who received counsel from Latham & Watkins.
Huda Beauty was founded by Huda Kattan, alongside her sisters, Alya and Mona Kattan, in 2013. Mona launched Kayali under the umbrella of parent company Huda Beauty in 2018.
Gibson Dunn advised Huda Beauty on the sale of its ownership in Kayali, while Skadden served as Mona’s legal counsel. The transaction is subject to regulatory approval.
Latham & Watkins advised General Atlantic on its investment in Kayali to support the fragrance brand’s next phase of growth.
Established in 1980, General Atlantic has provided capital and strategic support for over 520 growth companies throughout its history. It has approximately $100 billion in assets under management as of October 2024.
Mona will partner with General Atlantic to jointly own Kayali post-sale. The partnership is set to provide the resources and expertise to accelerate the brand’s evolution and global presence, according to a statement, with Mona continuing as CEO.
Additionally, Huda Beauty will return to full founder ownership by redeeming the interest that private equity firm TSG Consumer held in it since 2017. Huda will continue to lead the global cosmetics brand as CEO.
The Gibson Dunn corporate team was led by partners Benyamin Ross and Amar Madhani. Partners Benjamin Fryer and Lorna Wilson advised on tax aspects, while partner Kari Krusmark advised on intellectual property and commercial transactions aspects. Partner Lore Leitner advised on data privacy aspects.
The Skadden corporate team was led by partners Jeffrey Cohen, David Niemeyer, and Katja Butler.
The Latham & Watkins corporate team was led by partners David Walker and Huw Thomas.
Goldman Sachs International served as Huda Beauty’s financial advisor, while Raymond James provided financial advice to General Atlantic.
