Grooming Startup Manscaped Holds Bright Lights SPAC Talks

(Bloomberg) -- Manscaped, a startup that sells products for “below-the-waist hygiene,” is in talks to merge with blank-check firm Bright Lights Acquisition Corp., according to people with knowledge of the matter.

The transaction would value the combined entity at about $1.4 billion, one of the people said. Terms aren’t finalized and it’s possible talks could fall apart.

Spokespeople for Bright Lights and Manscaped declined to comment.

San Diego-based Manscaped, a maker of hair trimmers including one nicknamed “the Lawn Mower,” deodorant, lotions and other products for men, is expected to post an annual revenue in excess of $275 million by year-end, one of the people said. Rather than pursuing profitability, it has invested in new products and geographical expansion, another person familiar with the matter said.

The company in recent weeks has announced its launch in Singapore and South Africa, after adding Norway and Switzerland in January. It ships direct to consumers in more than 30 countries including the U.K. and Australia. In the U.S., Manscaped has a physical presence in Target and Best Buy stores.

Los Angeles-based Bright Lights, a special purpose acquisition company led by Chief Executive Officer Michael Mahan, the former CEO of Dick Clark Productions, raised $230 million in a January initial public offering. It has said it intends to focus on finding a target in the consumer products and media, entertainment and sports sectors, particularly one that “can benefit from celebrity ownership and/or partnership.”

Founded in 2016, Manscaped has sponsorship agreements with USA Triathlon, mixed martial arts platform UFC, the National Football League’s San Francisco 49ers, and the National Hockey League’s Montreal Canadiens and Ottawa Senators, as well as soccer clubs such as the Wolverhampton Wanderers and Shamrock Rovers.

Manscaped, led by CEO Paul Tran, last month promoted its chief operating officer Kevin Datoo to president and its vice president of finance Phillip Unthank to chief financial officer.

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