THE WHAT? Blackstone and sun care brand Supergoop! have announced a partnership with a set of investors from across the business, media and entertainment sectors, including Hugh Jackman, female entrepreneurs from across Blackstone’s portfolio and the I Promise School.
THE DETAILS The partnerships follow a majority investment in Supergoop! by funds managed by Blackstone Growth in late 2021.
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.”
THE WHY? 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.”