Carlyle Invests in Beautycounter at $1 Billion Valuation
The Carlyle Group has made a majority investment in Beautycounter that values the company at $1 billion.
Beautycounter sells clean skin care, makeup and personal care products through a network of sales people, brick and mortar locations, and online.
The company plans to use the capital to increase brand awareness and further its omnichannel business model. Beautycounter previously got a minority investment from TPG Growth in 2014, and an investment from Mousse Partners in 2018. Mousse has reinvested in Beautycounter.
Gregg Renfrew, founder and CEO of beautycounter. Courtesy Photo
Beautycounter and its founder and chief executive officer Gregg Renfrew have been deeply involved in the clean beauty movement, pushing for legislation related to personal care product safety in the U.S. The brand has a “Never List” of 1,800 questionable or potentially harmful ingredients that it does not use in its products.
“In 2013, I launched Beautycounter with the simple mission to get safer products into the hands of everyone,” said Renfrew in a statement. “I have long admired Jay [Sammons, head of global consumer, media and retail at Carlyle] and the team at Carlyle for their experience working with brands at the intersection of cultural relevance and consumer demand and believe that our combined vision will be instrumental in accelerating Beautycounter as the leader in clean beauty, and in the beauty industry as a whole.”
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“Beautycounter is a pioneer and leader in the fast-growing clean beauty industry, and we see an opportunity to support a talented, founder-led team in amplifying the brand’s mission to change beauty forever,” Sammons said.
Carlyle made the investment from Carlyle Partners VII, an $18.5 billion fund.
Evercore advised Carlyle, and Goldman Sachs advised Beautycounter.
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