Luxury Brands has acquired hair styling brand FHI Heat and its subsidiary beauty brands Stylus, Neo Bond, Hair Veil and Daily Beauty.
The acquisition aims to allow FHI Heat to expand its wholesale and direct-to-consumer retail distribution channels, investment in R&D and marketing initiatives.
Michael Dodo, President and CEO of Luxury Brands, will become President and CEO of FHI Heat.
He said: “Luxury Brands is growing rapidly, and we are particularly excited to expand our business to hair care with FHI Heat's amazing range of styling tools and products.
“This acquisition allows us to realise our vision of becoming the premiere brand of choice for beauty enthusiasts worldwide.
“FHI Heat's success would not be possible without the dedication of our highly committed team members and our loyal customer base, and both will continue to play critical roles in the global expansion of this sensational beauty brand.”
FHI Heat’s headquarters will move to Norwalk in Los Angeles, California.