Supergoop! gets minority investment from Encore Capital. The firm has a history of investing in beauty brands and is invested in Lorac and Butter London. Previously, Encore invested in MyChelle Dermaceuticals, and Tarte, which it sold to Juggernaut Capital Partners and Kosé, respectively.
WHO: Supergoop! is the first and only prestige beauty brand 100% dedicated to UV protection. Founded in 2007 by former teacher and industry pioneer Holly Thaggard, the brand is driven by creating innovative, efficacious, and ingredient-conscious formulations that deliver broad-spectrum protection in unique, feel-good ways. The brand is serious in its mission to educate on the importance of sun protection, but fun and engaging in its lifestyle approach.
Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in equity capital and invested in 26 companies. The firm has a history of investing in beauty brands and is invested in Lorac and Butter London. Previously, Encore invested in MyChelle Dermaceuticals and Tarte, which it sold to Juggernaut Capital Partners and Kosé, respectively.
WHY: Funds are said to be primarily earmarked to increase marketing efforts.
IN THEIR OWN WORDS: “We are thrilled to partner with Encore to help us take Supergoop! to where no SPF has gone before,” said Supergoop! founder and CEO Holly Thaggard, an industry pioneer who has earned numerous distinctions and accolades for product and brand innovation. “I have known Kevin Murphy and the Encore team since the very early days of Supergoop!, and I am looking forward to their support as we continue our journey of changing the way the world thinks about sunscreen.”
“We have long been interested in investing in an SPF business, and we’ve been really focused on looking for a brand that we think can scale in a way that SPF brands typically don’t,” Murphy said. “Between the brand, management and the product innovation, Supergoop really does have a chance to grow into a large business.”
“We’re a products-first company,” said Amanda Baldwin, Supergoop! president. “Everything starts with the product. We’ve got to get it into more hands and tell people more about it. Marketing dollars are essential to that, and doing it in a digital-first mind-set.” Increased marketing spend also likely means more hires, Baldwin said.
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