Sunscreen Brand Supergoop Gets Majority Investment from Blackstone – WWD

A Blackstone fund is investing largely in the beauty sunscreen brand Supergoop, the companies said Monday.

Supergoop was founded by Holly Thaggard, who built the company into one of the first and most successful premium SPF companies in the beauty industry.

Holly Thaggard

Holly Thaggard, Founder, Supergoop!
Photo provided by Supergoop!

Thaggard founded the brand in 2005 after a friend was diagnosed with skin cancer with the aim of making it easier to incorporate sunscreen into your daily routine. Supergoop includes SPF in all of its products, from body moisturizers to eye shadows and lip gloss, and sells through beauty retailers, including Sephora.

WWD previously reported that Supergoop hire Goldman Sachs to explore deal options, and the company had approximately $60 million in revenue for 2020. Terms of Blackstone’s investment were not disclosed.

Thaggard, managing director of Supergoop, Amanda Baldwin, and existing investors Encore Consumer Capital, Cult Capital, Green Park & ​​Golf Ventures, CircleUp, Grace Beauty and Swat Equity will continue to own shares in the business. Karma.

Supergoop plans to use the investment to invest in future innovation, education and marketing, and expand nationally and globally.

The transaction is one of the last major beauty deals that industry sources expect to happen in 2021. Several other big deals have been announced recently, including that Procter & Gamble has announced planning to buy Farmacy and Ouaiand Eurazeo Brands acquired Beekman 1802.

For more information from WWD.com, see:

Update: All Beauty M&A deals Year 2021

Beauty Companies Consider IPO

Foundermade Acquisition, Expansion Planning and Trade Show IRL

https://wwd.com/beauty-industry-news/beauty-features/blackstone-acquire-supergoop-spf-sunscreen-1235021584/ Sunscreen Brand Supergoop Gets Majority Investment from Blackstone – WWD

Linh

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