Beautycounter Partners With The Carlyle Group To Accelerate Growth

Beautycounter Partners With The Carlyle Group To Accelerate Growth

Beautycounter, considered a leader in the clean beauty movement, is on the fast-track for growth, following the acquisition by The Carlyle Group CG . The global investment firm announced Tuesday it has acquired a majority stake in Beautycounter, founded in 2013, positioning the beauty brand for accelerated growth, including boosting brand awareness and building upon the company's state-of-the-art, omni-channel business. The transaction reflects a market valuation of $1 billion. "In 2013, I launched Beautycounter with the simple mission to get safer products into the hands of everyone," said Gregg Renfrew, Beautycounter founder and chief executive officer, in a prepared release. "Today marks an exciting and important milestone for our company and I am so proud to partner with Carlyle as we continue to work toward achieving that mission," Renfrew said. "I have long admired Jay [Sammons] and the team at Carlyle for their experience working with brands at the intersection of cultural relevance and consumer demand and believe that our combined vision will be instrumental in accelerating Beautycounter as the leader in clean beauty, and in the beauty industry as a whole." The investment allows Beautycounter to continue on its path to becoming a world-class, omnichannel business, Renfrew said. "We're