THE WHAT? Blackstone has announced that funds managed by Blackstone Growth have entered into an agreement for a majority investment in SPF-focused skin care brand, Supergoop!
THE DETAILS Founder Holly Thaggard, CEO Amanda Baldwin and the existing senior management team will continue to maintain significant equity ownership.
THE WHY? The 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.
Ann Chung, Global Head of Consumer for Blackstone Growth, commented, “By creating a new category in SPF-focused skin care, Holly is the kind of innovative founder who is inspiring mission-driven entrepreneurs globally. Supergoop!’s everyday products that look and feel great while providing meaningful protection from sun damage are changing the way people view sunscreen. We’re proud to support the continued expansion of this business and to welcome Holly, Amanda and their incredible management team into the Blackstone family.”