TPG Growth has acquired a minority stake in Beautycounter. No financial terms were disclosed. Based in Santa Monica, Calif., Beautycounter is a maker of skin care and beauty products.
SANTA MONICA, Calif.–(BUSINESS WIRE)–Beautycounter, a high-growth business in the personal care and beauty space, announced today that TPG Growth has made a strategic investment in the company, acquiring a minority stake. TPG Growth is the middle market and growth equity investment platform of TPG, a global private investment firm. The investment will accelerate the company’s growth including building infrastructure, increasing market share, stimulating awareness of health hazards and continuing to develop, produce and sell high-performing skin care and beauty products that are safe for consumers. Other terms of the transaction were not disclosed.
The Santa Monica-based venture was launched in 2013 by Founder and CEO Gregg Renfrew. Beautycounter offers safe and effective beauty products through a multi-channel distribution platform including a network of independent Consultants, e-commerce, and strategic partners including J.Crew and Gwyneth Paltrow’s website, goop.com.
Beautycounter launched with a robust offering of innovative skin care and beauty products, and established new health and safety standards by developing the most health protective Ingredient Selection Process – far ahead of the industry, which has not seen regulation in the U.S. since 1938.
“Our goal is to get high quality, safe products into the hands of everyone, and TPG Growth’s investment will aid in this mission,” said Gregg Renfrew, Founder and CEO of Beautycounter. “We are excited to work with TPG and to access their valuable strategic, operational and sector expertise. TPG is the perfect partner to help support our accelerated growth as the leader in the safe beauty space. We believe consumers have the right to safe products that also perform beautifully. Beautycounter is committed to bringing an unprecedented level of transparency to this industry.”
“Beautycounter has done a phenomenal job of offering safe, high-performing products at an accessible price point,” said John Bailey, Partner at TPG Growth. “We are very impressed with Gregg and her experienced team who are bringing a novel approach to a traditional selling model with remarkable products. With the Company’s fundamental promise of screening out toxic, unnecessary and untested chemicals, its focus on delivering excellent products that deliver on consumer needs, and its high quality and passionate team, Beautycounter is well-positioned to continue delivering outsized growth and evolving the personal care landscape.”
Based in Santa Monica, Beautycounter, a disruptive beauty brand, launched in 2013 by founder and CEO Gregg Renfrew. Beautycounter, a B Corporation, develops and sells highly effective skin care, body and hair products, and cosmetics that are safe for consumers. The Company’s products are carefully formulated with high safety standards excluding more than 1,500 harmful ingredients linked to cancer, hormone disruption, reproductive toxicity, skin irritation, cumulative exposure risk and other hazards. For more information visit www.beautycounter.com. Facebook Twitter Instagram Pinterest YouTube
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3.9 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. The firm is backed by the resources of TPG, which has $65 billion of assets under management. TPG has deep consumer, retail, and internet marketing experience through investments that have included e.l.f. Cosmetics, Uber, Neiman Marcus, Airbnb, SurveyMonkey, J.Crew, and Petco, among others. TPG Growth has offices in the United States, China, India and Singapore. For more information visit www.tpggrowth.com.