GURNEE, Ill. — Yellow Wood Partners, a Boston-based private equity firm focused on investing in consumer brands and companies, has agreed to acquire Paris Presents Inc. from EagleTree Capital and its co-investors. As part of the transaction, Paris Presents will be merged with Yellow Wood’s current portfolio company Freeman Beauty, a leading specialty beauty company with a portfolio of brands across the skin care, hair care, foot care, and specialty bath and body categories.

Founded in 1947, Paris Presents creates and distributes beauty products and personal care accessories to mass merchants, drug stores, specialty beauty stores and online retailers. Its cosmetics accessories brands are Real Techniques, maker of cosmetic sponges; EcoTools, cosmetics and bath accessories; Body Benefits by Body Image, a player in bath accessories as well as retailer brands.

“This transformational acquisition creates an industry-leading beauty platform focused in two of the fastest-growing segments in the personal care and beauty segments. Paris Presents’ superior-quality branded beauty accessory products dovetail well with Freeman Beauty’s industry leading face masks, as both companies share the same Millennial, Gen Z and Multicultural consumers,” said Dana Schmaltz, founding partner of Yellow Wood Partners. “The combined organization will enhance the strong partnerships that both Paris Presents and Freeman have with their retail and ecommerce partners leading to future growth. The Yellow Wood team is very much looking forward to working with Patrick O’Brien and Bill George and the entire combined management of these businesses to continue to grow this platform organically as well as by adding additional brands to the platform.”

Patrick O’Brien, chief executive officer of Paris Presents, said, “For over 70 years Paris Presents has been utilizing consumer insights, innovative product development and supply chain expertise to develop winning consumer-focused products. While we have enjoyed considerable growth and success over the past years with EagleTree Capital, partnering with Yellow Wood provides us with access to additional resources and an increased level of industry and operating expertise to build on our success and accelerate our business priorities as an innovative market leader.”

Bill George, CEO of Freeman Beauty, commented, “We are committed to growing Freeman, and Yellow Wood’s extensive experience in building branded consumer companies is helping tremendously as we enhance our partnership with them to build another global leader in the beauty and personal care category.”

George Majoros, co-managing partner of EagleTree Capital, said, “We and our co-investors have been delighted to work with Patrick O’Brien and the entire Paris Presents management team over the last several years. We’re very pleased with the strong growth the company has achieved under our ownership, and are confident Paris will continue its strong international and domestic growth under Yellow Wood’s leadership.”

Closing of the transaction is expected in September 2018. Terms of the deal were not disclosed.