A little under a week ago, September 2nd to be exact, Sundial Brands announced a partnership with Bain Capital. Sundial owns such popular natural hair brands as SheaMoisture and Nubian Heritage.
Here, Sundial describes its partnership with Bain Capital:
“Today, Sundial Brands, announced an historic and exciting partnership with Bain Capital to bring the firm on as a minority, non-control investor in our company. As we approach our 25th year in business, this begins another transformative chapter in our story – a story that our community of employees, consumers, retail partners and many more are writing along with us. So, we wanted all of you to hear straight from us why we made the decision. Quite simply, we want to be better so that we can serve our communities better. Period. But we thought you might want a few more details as well, so here are some of the key reasons why this is such an incredible opportunity for us – and you!”
The website goes on to provide 10 reasons SundialBrands chose a new partner. Feedback on social media seems largely positive. For some, the partnership with Bain will allow SunDial to reach more consumers, broaden the brand’s reach, and, hopefully, generate additional revenue. However, some bristle because Bain Capital was founded by Mitt Romney. In essence, some may perceive Bain Capital as a Republican haven and think that the firm cannot properly handle a natural hair brand. Articles in the Wall Street Journal and the Boston Globe provide additional context on the partnership and Bain Capital.
What are your thoughts? Is it it a good move for Sundial Brands to partner with Bain Capital? Why or why not?