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Beekman 1802 Sells Majority Stake for $92 Million

December 15, 2021
December 15, 2021
Beekman 1802

Eurazeo is acquiring a controlling stake in Beekman 1802, investing $62 million out of a total of $92 million to acquire a majority stake alongside co-investors Cohesive Capital Partners and the Cherng Family Trust.

WHO: Founded in 2009 by Dr. Brent Ridge and Josh Kilmer-Purcell in Sharon Springs, New York, Beekman has grown into a successful omnichannel brand with premium skincare and body care products that leverage microbiome science and harness the benefits of goat milk. Beekman's commitment to sustainability, kindness, authenticity, and community is a key differentiator in today's beauty landscape

WHY: Eurazeo's investment will support the continued expansion of Beekman 1802 across multiple channels, categories, and geographies, leveraging and further enhancing the brand's storytelling capabilities and products.

IN THEIR OWN WORDS: Adrianne Shapira, Managing Director, Brands, said, "Brent, Josh and the entire Beekman team have created a truly special brand that resonates with today's beauty consumers seeking aspirational yet accessible products that are clean and effective. With kindness at its core, Beekman is also spreading beauty from within. We are thrilled to partner with Beekman to propel their next chapter of growth, leveraging our deep industry expertise to help them reach consumers on a global scale in the years ahead."

Brent Ridge and Josh Kilmer-Purcell, Beekman 1802 co-founders, added, "When we started Beekman 1802 over a decade ago, we were focused on helping our community; over the years we have been fortunate to grow that community near and far through our unique products that are kind to sensitive skin and our use of Kindness as a framework for wellness and well-being. Today we couldn't be more excited to embark on Beekman's next journey together with Eurazeo, a partner with strong brand building expertise that will help us grow our community of neighbors and spread kindness globally."

Marc Rey, incoming Chairman of Beekman 1802, said, "The beauty industry continues to be marked by tremendous innovation and growth as consumers seek products and brands that are both effective and clean. Beekman's powerful combination of being a truly authentic brand with excellent products and strong leadership is a winning one, and I look forward to supporting its growth by leveraging my global experience developing and leading iconic beauty brands."

DETAILS:

  • Beekman 1802 sold a majority stake in the brand for $92 million. Eurazeo invested $62 million to acquire a majority stake alongside co-investors Cohesive Capital Partners and the Cherng Family Trust.
  • In November, Kilmer-Purcell shared the company had $150 million in retail sales last year at the WWD Beauty CEO Summit.
  • As part of Eurazeo's investment, Marc Rey, former CEO of Shiseido Americas, will join the company's Board of Directors as Chairman, alongside Adrianne Shapira, Managing Director, and George Birman, Principal at Eurazeo.
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