Supergoop! and Blackstone Growth (BXG) Partner with New Investors to Teach Even More People About the Importance of Daily SPF
May 24 2022 - 10:30AM
Business Wire
New partnership follows previously announced
majority investment from Blackstone Growth (BXG)
Supergoop!, the first skincare brand that puts SPF at the
forefront, and Blackstone (NYSE:BX), a leading global investment
firm, today announced a partnership with a world-class set of
investors from the realms of business, media and entertainment,
including:
- Hugh Jackman, Jenna Lyons and Michelle Wie
- Iconic female entrepreneurs from within Blackstone’s portfolio,
including Sara Blakely, Founder of SPANX, and Whitney Wolfe Herd,
Founder and CEO of Bumble, among others
- Main Street Advisors and the I Promise School, as well as G9
Ventures, founded by Amy Griffin, and SC Holdings
Supergoop! was founded by former teacher and skincare industry
pioneer Holly Thaggard in 2005, after a close friend was diagnosed
with skin cancer at age 29. The brand’s mission since day one has
been to develop highly innovative dermatologist-approved SPF
products with clean ingredients that feel good to wear, making it
easier to incorporate daily sun protection into everyday routines.
Today, led by CEO Amanda Baldwin, Supergoop! has created a new
category of daily-use SPF for everyone, and is looking forward to a
new phase of growth as it introduces its award winning-formulas to
even more people across the globe.
Holly Thaggard, Supergoop! Founder and Chair of the Board, said:
“We are incredibly grateful to welcome this inspiring group of
investors to Supergoop!, and for all of the support Blackstone has
shown our business. We’re humbled by their excitement to join our
mission of encouraging people around the world to protect their
skin and create new daily routines and habits, and we are more
ready than ever for our next phase of growth.”
Amanda Baldwin, CEO of Supergoop! said: “We’re thrilled to see
continued business momentum as part of Blackstone’s network, and
the support of our new investors marks a new growth chapter for the
brand. We are doubling down on our mission to create groundbreaking
products as we educate as many people as possible on the importance
of daily SPF. We have more work to do to truly reach our ambitious
goals and our team is ready and motivated for the road ahead as we
continue to change the way the world thinks about sunscreen.”
These partnerships follow a majority investment in Supergoop! by
funds managed by Blackstone Growth (BXG) in late 2021 to help fuel
Supergoop!’s commitment to launching category-creating innovations;
driving consumer behavior change through education and
best-in-class brand marketing; and expanding the company’s national
and global reach. These new investors share Supergoop!’s commitment
to raising awareness of the need for and expanding access to
everyday SPF protection, including through the company’s Ounce by
Ounce program, which has donated more than 4,300 SPF pumps to over
1,600 schools and youth organizations across America. One of the
most exciting elements of this new phase of the brand will include
a collaboration with the I Promise School to provide both
educational materials as well as plenty of Supergoop! to ensure
that young children and their families understand the importance of
sun protection every day of the year.
Ann Chung, Global Head of Consumer for Blackstone Growth (BXG),
said: “Supergoop!’s tremendous growth is a major testament to the
progress Holly, Amanda and the team have made to shift consumer
behavior toward daily SPF use, which is not only resonating with
customers but has drawn support from this passionate set of
investors who are at the top of their respective industries. We’re
honored to bring these new partners on board as we work to amplify
Supergoop!’s mission and accelerate its global growth.”
About Supergoop!
Holly Thaggard launched Supergoop! to stop the skin cancer
epidemic and change the way the world thinks about sunscreen.
Supergoop! creates highly innovative, feel-good products that make
integrating SPF into everyday routines easy (and fun!) in order to
inspire consumers to do the number one thing they can for their
skin- wear SPF! For more information, visit www.supergoop.com.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $915 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity,
infrastructure, life sciences, growth equity, opportunistic,
non-investment grade credit, real assets and secondary funds, all
on a global basis. Further information is available at
www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
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version on businesswire.com: https://www.businesswire.com/news/home/20220524005711/en/
For Supergoop!: Sarah Castille supergoop@derris.com
For Blackstone: Mariel Seidman-Gati
mariel.seidmangati@blackstone.com (917) 698-1674
Tom Clements Thomas.Clements@blackstone.com (646) 482-6088
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