Carlyle Group acquires majority stake in cosmetics firm Beautycounter
The Carlyle Group has acquired a majority stake in Beautycounter from Counter Brands in a deal that values the US cosmetics company at $1 billion.
Founded in 2011 by Gregg Renfrew and launched in 2013, Beautycounter is engaged in producing skincare and cosmetic products.
Jay Sammons – Head of Global Consumer, Media & Retail, 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.
“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.”
Carlyle Group acquires majority stake in cosmetics firm Beautycounter. Photo courtesy of Gerd Altmann from Pixabay.
The investment from Carlyle Group is expected to help Beautycounter expedite its strategic initiatives. These include growing brand awareness and also strengthening its integrated, omni-channel business model.
Gregg Renfrew – Beautycounter CEO said: “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.”