Blackstone to acquire majority stake of Supergoop
Blackstone Growth has announced it will acquire a majority stake in suncream beauty brand Supergoop.
The suncream brand will use the investment to help drive consumer behaviour change through education and brand marketing, to expand the company’s national and global reach.
Supergoop was founded by former teacher and skincare expert Holly Thaggard, who will continue to maintain significant equity ownership in the business.
Alongside Blackstone, the brand's CEO Amanda Baldwin and its existing senior management team will also continue to maintain significant equity ownership in the business.
The US brand is sold with UK retailers including Cult Beauty, Selfridges and Space NK.
Holly Thaggard, Founder of Supergoop, said: “Over fifteen years ago, I founded Supergoop! with a mission to transform the suncream industry and eradicate skin cancer by making everyday essentials with SPF that people want to wear.
“We couldn’t be more thrilled to join the Blackstone family of female-founded, category-creating companies to further that mission. It's experience of driving growth around the world is exceptional and will be critical to furthering our efforts to change the way the world thinks about suncream.”
Other investors who will continue to support Supergoop include The Thaggard and Emery families, Encore Consumer Capital, Cult Capital, Green Park and Golf Ventures, CircleUp, Grace Beauty and SWAT Equity.
