Stamford-based Conair Corp. has been acquired by the New York-headquartered private equity firm American Securities LLC. The financial terms of the acquisition were not made public.
Founded in 1959 by Leandro Rizzuto as a hair appliance company, Conair is a leading provider of kitchen electric appliances, nonelectric kitchenware, personal care, grooming, health and beauty products. Its brand portfolio includes Conair, Cuisinart, Babyliss, Scunci and Waring and its products are sold in more than 120 countries.
According to the press release announcing the acquisition, “certain members of the Rizzuto family will retain a minority ownership in Conair.” Ron Diamond will continue as company president and take on the additional role of CEO.
“The partnership with American Securities will allow us to continue our evolution with a focus on new product development and an acceleration of our M&A activities while continuing to bring efficiencies to our operations,” Diamond said.
