Key Takeaways:Malibu C is now 100% employee-owned.The founder rejected PE and strategics to protect brand values.The ESOP is reshaping company culture.In a beauty industry saturated with headlines about private equity (PE) acquisitions and strategic brand consolidations, one legacy haircare company has taken a bold, countercultural approach. Rather than selling to a corporate conglomerate or an investment firm, Malibu C, a pioneer in vitamin C-based personal care, has transitioned to 100% employee ownership through an Employee Stock Ownership Plan (ESOP).The move, spearheaded by founder Tom Porter, offers a rare alternative to traditional exit routes, demonstrating how brand integrity, legacy preservation, and employee empowerment can coexist without compromising growth. Malibu C was born in 1985 under the name C Free Enterprises, before evolving into what is now the brand arm of Malibu Wellness, Inc. The company made its mark as one of the first in the world to introduce vitamin C in external beauty applications.Today, the brand is headquartered in Indianapolis, Indiana, where it continues to formulate, manufacture, and distribute all products through its own vertically integrated facility, MWI Labs. Despite a competitive and rapidly consolidating industry, Malibu C has retained independence and focus. “Over the last 40 years, many companies have come after us, but unfortunately, what’s happening is that most products labeled as vitamin C today aren’t using true ascorbic acid,” Tom Porter noted to BeautyMatter, referencing Malibu C’s technical differentiation.Enter the ESOPThat independence, it turns out, was no accident.