Rhyz Inc., a Provo-based subsidiary of Nu Skin Enterprises Inc., has announced the acquisition of BeautyBio, a skincare and beauty device brand based in Dallas.
Founded by Jamie O’Banion in 2011, BeautyBio will continue to operate independently as an omnichannel brand, headed by O’Banion, and will leverage opportunities for growth and cost efficiencies as part of the Rhyz organization, a Rhys release said.
“BeautyBio’s commitment to beauty through innovation aligns with our vision for personalized, science-based skincare products and{mprestriction ids="1,3"} beauty device systems,” said Ryan Napierski, president and CEO of Nu Skin Enterprises. “BeautyBio’s unique device IP in hydration facial and micro-needling technology will further strengthen Nu Skin’s position as the world’s best-selling beauty device systems brand. For BeautyBio, our unique expertise in devices, manufacturing and technology will help this business reach its potential as part of the Rhyz ecosystem.”
BeautyBio markets a range of skincare products and beauty devices, including the GLOfacial pore cleansing tool, GloPRO at-home micro-needling tool and performance skincare products.
“We couldn’t be more excited to be a part of Rhyz and the Nu Skin Enterprises family,” O’Banion, said. “As we look for new opportunities to empower our existing and future communities around the world in a deeper and more meaningful way, this partnership will enable us to further accelerate our mission of enhancing lives through clean, performance-based skincare solutions for a limitless, healthy future.”
Rhyz Inc. is the strategic investment arm of Nu Skin Enterprises. Formed in 2018, Rhyz has invested in consumer, technology and manufacturing companies focused on innovation within the beauty, wellness and lifestyle categories.
Financial terms of the acquisition were not disclosed.{/mprestriction}
