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Blackstone acquires skincare brand Supergoop!

Encore Consumer Capital has sold Supergoop! to Blackstone.

Encore Consumer Capital has sold Supergoop! to Blackstone. No financial terms were disclosed. Supergoop! is a protective skincare brand

PRESS RELEASE

San Francisco, March 1, 2022 – Encore Consumer Capital (“Encore”), a private equity firm that invests exclusively in leading consumer products companies, is pleased to announce the completion of the previously announced sale of Supergoop! to funds managed by Blackstone Growth (“Blackstone”).
Supergoop! is the first protective skincare brand that puts SPF at the forefront. The company, founded by former teacher and skincare industry pioneer Holly Thaggard, has enjoyed tremendous growth driven by Supergoop!’s efforts for more than 15 years to promote the importance of daily skin protection.

Supergoop! strives to educate and inspire the world to wear SPF. Every. Single. Day™. Continued investment will help fuel Supergoop!’s commitment to launch category-creating innovations; drive consumer behavior change through education and best-in-class brand marketing; and expand the company’s national and global reach.

Robert Brown, Managing Director of Encore Consumer Capital, said, “Playing a small role in changing the way the world thinks about sunscreen, and continuing to do so as an investor alongside Blackstone, is a true privilege. We would like to express our gratitude to founder Holly Thaggard, CEO Amanda Baldwin, the Thaggard and Emery families, CULT Capital, and the leadership team at Supergoop! for inviting us into their family and being such wonderful partners. There is no challenge too big for this management team, as evidenced by ground-breaking new product development, flawless execution in launching new distribution channels, best-in-class direct-to-consumer marketing, and a successful entry into China. We are delighted to continue on as investors, and as partners to this world-class management team.”

“Over fifteen years ago, I founded Supergoop! with a mission to transform the sunscreen industry and eradicate skin cancer by making everyday essentials with SPF that people want to wear,” said Holly Thaggard, Supergoop! Founder and Chair of the Board. “Encore was the first institutional investor to reach out when Supergoop! was only a team of one and we were doing less than one million in revenue. From this first meeting, the Encore team believed in my vision and ability to execute which ultimately has helped tremendously in our journey to change the way the world thinks about sunscreen. We have built a very special relationship with the Encore team over many years and their partnership has been an important part of our story.”

“I could not have asked for a better partner than Encore. From being there to think through critical strategic decisions to helping secure our first debt financing, Robert and the Encore team have always been the supportive, constructive partners that a CEO hopes for. I look forward to continuing to work together as Supergoop! enters its next exciting phase of growth.” said Amanda Baldwin, Supergoop! CEO.

Supergoop! represents Encore’s fifth exit in the beauty industry. “The beauty and personal care segment is of great importance to Encore, and we are proud of our partnership with Holly, Amanda, and the entire team at Supergoop!” remarked Nichole Ferrara, Vice President of Encore. “We look forward to partnering with the next wave of founders who are seeking an experienced, value-added investor in skin care, color cosmetics, hair care, and personal care.”

Supergoop! was advised by Goldman Sachs and Greenberg Traurig. Brownstein Hyatt Farber Schreck, LLP acted as legal counsel to Encore. Supergoop!’s long-time trusted lending partner JP Morgan Chase provided acquisition and growth financing to facilitate the transaction. Terms of the transaction were not disclosed.

About Encore Consumer Capital
Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in equity capital and invested in over 35 companies in the sector. Encore’s current and prior investments include food and beverage manufacturers and marketers (4505 Meats, Aidells Sausage Company, Brownie Brittle, Isopure, Lion Beverages, Mesa Foods, Murry’s, Tender Belly, Thanasi Foods, Van Law Foods) pet products companies (Open Farm Pet, ThunderWorks, Zuke’s) and personal care/beauty companies (Love Wellness, Supergoop!, tarte), and food distribution companies (Freshko Produce Services, Pint Size Hawaii, Tourtellot), among others. The firm targets companies with between $10 million and $100 million in annual revenues where Encore’s strong expertise in strategy development, brand marketing, manufacturing and supply chain optimization, and distribution expansion can help drive performance. To learn more, visit www.encoreconsumercapital.com