Former Ulta Beauty CEO Lyn Kirby is reportedly part of a group that acquired Beauty Brands, a cosmetics chain based in Kansas City, Mo.
According to a Crain’s Chicago Business article, Kirby, along with a leveraged buyout firm in California, snapped up the majority stake from advertising executive and entrepreneur Robert Bernstein.
Bernstein, who started Beauty Brands 19 years ago, told Crain’s Chicago Business that he couldn’t name the private equity buyer or discuss terms of the deal.
Kirby, who stepped down as CEO of Ulta Beauty in 2010, will serve as CEO of Beauty Brands, the article states.
Beauty Brands was founded in 1995 and today operates more than 50 locations. Each of the 5,000- to 9,000-sq.-ft. locations offers a full beauty experience, including a full-service salon and spa, as well as a superstore featuring salon exclusive products.