Funds managed by Blackstone Growth have entered into a definitive agreement for a majority investment in Supergoop!.
WHO: Supergoop! was founded in 2005 by Holly Thaggard, a former teacher and skincare industry pioneer who built the company into one of the first and most successful premium SPF companies in beauty. It is the first protective skincare brand that puts SPF at the forefront, including SPF in its products, from body moisturizer to eye shadow and lip gloss.
WHY: Supergoop! plans to use the capital to invest in innovation, education, marketing, and to expand nationally and globally.
IN THEIR OWN WORDS: "Over fifteen years ago, I founded Supergoop! with a mission to transform the sunscreen industry and eradicate skin cancer by making everyday essentials with SPF that people want to wear," said Holly Thaggard, Supergoop! founder and Chair of the Board. "Today, we've changed consumer behavior and attitudes toward SPF through innovative products and education. We couldn't be more thrilled to join the Blackstone family of female-founded, category-creating companies to further that mission. Their 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 sunscreen."
Ann Chung, Global Head of Consumer for Blackstone Growth, said: "By creating a new category in SPF-focused skincare, Holly is the kind of innovative founder who is inspiring mission-driven entrepreneurs globally. Supergoop!'s everyday products that look and feel great while providing meaningful protection from sun damage are changing the way people view sunscreen. We're proud to support the continued expansion of this business and to welcome Holly, Amanda and their incredible management team into the Blackstone family."
"We are on an incredible journey at Supergoop! and are excited for the road ahead. As we look forward to the future, we wanted a partner who could help us drive the business to reach the next level," said Amanda Baldwin, Supergoop! CEO. "We're excited to work with the team at Blackstone because they think differently, reinforce our strengths and will help the team scale Supergoop! through expanded brand awareness, international exposure and out-of-the-box product innovation.”
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