Mid-market private equity firm Crescent Capital Partners has exited natural cosmetics brand Nude by Nature after nearly ten years of ownership.

Nude by Nature has been acquired by billionaire businessman Dennis Bastas who has added to brand to his health and beauty consumer goods holding company VidaCorp along with another recent acquisition Makeup Cartel.

Crescent Capital has not revealed a sale value for Nude by Nature but Bastas, who made his wealth with generic drugs provider Arrotex Pharmaceuticals, is believed to have spent around $60 million on the two cosmetics companies. They join MCo, My Aura, Brutal Truth and SkinB5 in the VidaCorp stable.

Nude by Nature manufactures mineral-based beauty products. The company’s range includes makeup, moisturisers, scrubs, facial foundation powders, eyeshadows, lipsticks, lip glosses and mascaras, all made from natural ingredients.

Founded in 2008, Sydney-based Nude by Nature has grown its product lines under Crescent’s ownership. The company employs about 33 people.

Nude by Nature is the fifth best selling makeup brand in Australian pharmacies behind Maybelline New York, Revlon, L’Oréal and Rimmel. Key retail partners include Chemist Warehouse, Priceline, Big W, Target and Myer. The brand is also sold in more than 1200 independent pharmacy stores.

Advisory firm Ankura Consulting was given the task of finding a buyer for Nude by Nature in mid-2023.

Image: Nude by Nature beauty products.