The Carlyle Group acquires majority stake in Beautycounter
Private equity firm The Carlyle Group has acquired a majority stake in clean beauty brand Beautycounter.
In a statement, the group said the move will enable Beautycounter to accelarate growth by increasing brand awareness and driving its omnichannel business model. The transaction valued the company at $1 billion.
Beautycounter founder and chief executive Gregg Renfrew said: “In 2013, I launched Beautycounter with the simple mission to get safer products into the hands of everyone. Today marks an exciting and important milestone for our company and I am so proud to partner with Carlyle as we continue to work toward achieving that mission. I have long admired Jay and the team at Carlyle for their experience working with brands at the intersection of cultural relevance and consumer demand and believe that our combined vision will be instrumental in accelerating Beautycounter as the leader in clean beauty, and in the beauty industry as a whole.”
The investment in Beautycounter builds on Carlyle’s long-term focus on partnering with founder-led brands focused on growth. Equity capital for the investment came from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the US..
Jay Sammons, head of global consumer, media and retail at The Carlyle Group, said: “We are so excited to partner with Gregg and her outstanding executive team to support Beautycounter’s movement to bring safer products to consumers,” said “Beautycounter is a pioneer and leader in the fast-growing clean beauty industry, and we see an opportunity to support a talented, founder-led team in amplifying the brand’s mission to change beauty forever.”
