Frank Body was co-founded in 2013 by Steve Rowley, Bree Johnson, Jess Hatzis and Alex Boffa - who started the business with $5,000 in a coffee shop. The brand is known for its signature coffee ground-based body scrubs.
As reported in the Australian Financial Review, Frank Body sold a stake in the business to Chinese private equity firm EverYi Capital. Frank Body plans to use the investment to grow its business in China, with the goal to set up a team in Shanghai to target Chinese millennials. As part of the sale, the co-founders will retain a controlling stake in the business.
Corporate and M&A Partner Jonathan Wenig led the team advising Frank Body, with support from Senior Associate Rebecca Zwier. Commenting on the transaction, Jonathan said: “We are delighted to have assisted Frank Body with this important transaction. The business has exciting prospects and we wish them all the best with their expansion plans.”
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