Main Post Partners, the private equity firm that has backed Milk Makeup and Too Faced, has made a minority investment.
WHO: Dr. Dennis Gross Skincare is the clinical brand founded by NYC-based dermatologist Dennis Gross in 2000. The brand is best known for its cult Alpha Beta Peel Pads, the at-home version of the professional treatment Gross gives patients at his practice. The brand’s distribution bridges traditional retailers like Sephora and Nordstrom as well as the professional channel.
Main Post Partners is a private equity investment firm focused on investing in proven growth companies across the consumer value chain. Main Post Partners invests in both majority and minority positions primarily in first institutional capital situations where founders, entrepreneurs, and management teams are looking for an experienced partner to help build their companies to full potential. Sugared + Bronzed, Not Your Mother’s, and Milk Makeup are current brands in its portfolio.
IN THEIR OWN WORDS: “As people were starting to focus more and more on taking care of their skin, there are also more people looking for efficacious, results-oriented products,” Jeff Mills, managing partner at Main Post, told WWD. “Dr. Dennis Gross has great lineage, great heritage, has been around for 20 years and is extremely well-positioned to benefit from this larger audience of people who are really focused on skin.”
“As they learn about legitimate science, they’re graduating to our brand,” said Carrie Gross, Chief Executive Officer of the skincare brand and wife of Dennis Gross. “With COVID-19, everybody’s really needing to find professional clinical skin care,” she said.
- Main Post Partners made a minority investment in Dr. Dennis Gross Skincare. Terms of the deal were not disclosed.
- According to WWD, industry sources said the brand is on track to do $100 million in retail sales for 2020, and that the goal is to triple the business in the next three years.
- Carrie Gross will maintain her role as CEO of the brand.
- Current Main Post beauty investments include Milk Makeup, Sugared + Bronzed, and Not Your Mother’s.
- Financo advised Dr. Dennis Gross Skincare on the transaction.
Photo: via Dr. Dennis Grozz Skincare