Carlyle to acquire majority stake in Beautycounter
NEW YORK, April 13, 2021 /PRNewswire/ -- Counter
Brands, LLC, parent company of Beautycounter, the leader in clean
beauty, and global investment firm The Carlyle Group (NASDAQ:
CG) today announced that Carlyle has acquired a majority stake in
Beautycounter. The partnership will allow Beautycounter to
accelerate its strategic initiatives, including increasing brand
awareness as well as bolstering the company's innovative,
integrated, omni-channel business model. The transaction values the
company at $1 billion.
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Beautycounter is a mission driven, digitally native, clean
beauty brand that has continued to lead and define the future of
the global beauty industry since its launch in 2013. The company's
efforts have led the way for ingredient innovation and
transparency, having introduced The Never List™ to ensure 1,800
questionable or potentially harmful ingredients are never used in
its product formulations as part of its Blueprint for Clean;
achieved clinically-proven product efficacy, creating award-winning
makeup and skincare driving consumer loyalty; and prioritized
advocacy, passing nine pieces of legislation to advance personal
care product safety in the United
States. This consumer-first combination is what
Beautycounter strives to consistently deliver for its community and
is what sets it apart as a leader in the beauty industry.
"In 2013, I launched Beautycounter with the simple mission to
get safer products into the hands of everyone," said Beautycounter
Founder and CEO Gregg Renfrew.
"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."
"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 Jay
Sammons, Head of Global Consumer, Media & Retail, The
Carlyle Group. "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."
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 U.S.
in targeted industries, including Consumer, Media & Retail.
Evercore acted as lead financial advisor, and Goldman Sachs
acted as financial advisor to Beautycounter, and Latham &
Watkins served as legal counsel. Kirkland & Ellis acted as
legal counsel to Carlyle. Mousse Partners also participated in this
round of financing, having previously invested in the company in
2018.
To learn more, visit beautycounter.com.
About Beautycounter
Founded by Gregg Renfrew in 2011
and launched in 2013, Beautycounter is the leader in clean skincare
and cosmetics whose mission is to get safer products into the hands
of everyone. The Santa Monica,
CA-based brand leads the way for improved transparency and
accountability in the beauty industry, including advocacy efforts
that update federal regulations that have stood largely unchanged
since 1938.
Beautycounter is an omni-channel brand and is available today
online, in physical retail stores, through strategic partnerships,
and through its community of more than 65,000 independent sellers
across North America.
Beautycounter offers more than 100 products that have earned
numerous awards, including Fast Company's Most Innovative, Allure's
Best of Beauty, Glamour's Beauty Awards, Refinery29's Innovators
List, WWD's 2019 Best-Performing Beauty Company, and CNBC's
Disruptor 50. For more information, visit www.beautycounter.com,
follow on Instagram @beautycounter, Twitter @beautycounterhq,
Facebook @beautycounterhq, and YouTube @beautycounter.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with
deep industry expertise that deploys private capital across three
business segments: Global Private Equity, Global Credit and
Investment Solutions. With $246
billion of assets under management as of December 31, 2020, Carlyle's purpose is to invest
wisely and create value on behalf of its investors, portfolio
companies and the communities in which we live and invest. The
Carlyle Group employs 1,825 people in 29 offices across five
continents. Further information is available at www.carlyle.com.
Follow The Carlyle Group on Twitter @OneCarlyle.
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SOURCE Beautycounter