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CORE Industrial Partners Portfolio Company Arizona Natural Resources Acquires Marianna Beauty

Collective platform expands capabilities while serving both emerging and legacy brands

CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisition of Marianna Beauty Holdings, Inc. (“Marianna”), an Omaha, Nebraska-based leading developer and manufacturer of innovative hair, skin and beauty products for prominent retail beauty brands, professional salon brands, private label clients and cosmetology schools, by CORE portfolio company Arizona Natural Resources (“ANR”), based in Phoenix, Arizona.

Founded in 1968, Marianna is a full-service custom manufacturer, formulator and distributor of client-tailored hair care, hand and body products, styling aids and fixatives, hair color and dispensary products, and pet grooming products. Marianna operates a 400,000 square foot FDA-registered and cGMP-compliant facility, offering a comprehensive suite of capabilities, including research and development, packaging compatibility, preservative efficacy and micro testing, regulatory expertise, global sourcing competency, customized kitting, and multiple distribution options.

Together, Marianna and ANR have more than 100 years of experience, creating a platform that combines both emerging and legacy brands while expanding the overall scope and capabilities in order to serve a diverse range of customers. The collective entity will operate nearly 40 filling lines and more than 100 storage and mixing tanks handling liquid, cream, and hot fill products in sizes ranging from a ½ ounce sachet to full tanker trucks across nearly 550,000 square feet between the two facilities.

Mike Cate, Chief Executive Officer for Marianna, said, “The combination of Marianna and Arizona Natural Resources will generate immediate benefits to our customers as we build on the already formidable product capabilities of the two businesses, leverage scale advantages that come with operating a much larger company, and expand our enterprise distribution footprint across the West Coast and Midwest. I look forward to working with the ANR and Marianna teams to continue to drive value to customers through our organic and acquisition-based growth initiatives.”

John May, Managing Partner of CORE, said, “We remain committed to investing in the personal care products space with a particular focus on hair and skin care companies that can further expand the combined platform. We believe the long-term growth fundamentals of this industry coupled with CORE’s capital and resources is a winning combination to build a larger industry player that will benefit our customers.”

Frank Papa, Senior Partner of CORE, said, “Marianna and ANR are highly complementary, well-established players in the beauty and personal care industry. The two companies combine to form an industry leader with substantial operational scale, comprehensive chemical formulation capabilities, and plentiful capacity for their customers. We’re excited to work with the Marianna team to expand both their product offerings and their geographic reach.”

Norton Rose Fulbright LLP provided legal representation to CORE in the transaction.


CORE Industrial Partners is a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies with lasting results. For more information, visit


For over five decades, Marianna, headquartered in Omaha, Nebraska, has been a leading developer and manufacturer of innovative hair and beauty products for cosmetology schools, salon professionals, specialty retailers, and brand owners. The company’s comprehensive product offering includes shampoos, conditioners, hair gels and sprays, hair coloring solutions, hand lotions, hand and body washes, manicure and pedicure products, peroxide, nail polish remover, and a wide range of pet hygiene products. In addition to custom manufacturing, the company’s service portfolio also includes professional beauty and cosmetology school product distribution solutions. For more information, visit


Since 1972, ANR has been a leading provider of full-service custom formulation and contract manufacturing solutions for personal care products with an expertise in haircare and skincare. Headquartered in Phoenix, Arizona, ANR specializes in assisting emerging brands accelerate time to market through innovation and seamless collaboration and serves a customer base comprised of some of the most well-known and fastest-growing health and beauty companies across the United States. For more information, visit


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