Blackstone Growth has entered into a definitive agreement for a majority investment in Supergoop!, a protective skin care brand that puts SPF at the forefront.
The company, founded by former teacher and skin care industry pioneer Holly Thaggard, has enjoyed tremendous growth over the past five years given an increasing recognition of the importance of daily skin protection.
Thaggard, Supergoop!’s CEO Amanda Baldwin and the existing senior management team will continue to maintain significant equity ownership in the business alongside Blackstone. The investment will help fuel Supergoop!’s commitment to launch category-creating innovations; drive consumer behavior change through education and brand marketing; and expand the company’s national and global reach.
The Story of Supergoop!
Supergoop! strives to educate and inspire the world to wear SPF every day. Thaggard launched the brand in 2005, after a close friend was diagnosed with skin cancer at age 29, with the mission of developing dermatologist-approved, clean-ingredient SPF products that feel good to wear, make it easier to incorporate sunscreen into everyday routines and help consumers make daily sun protection a habit.
Today, with nearly 50 formulas, Supergoop! has created a new category of daily-use SPF for everyone. Its formulas are award winning – earning two TIME Magazine’s Best Invention of the Year honors and seven consecutive Allure Best of Beauty Seals, as well as being named one of WWD Beauty Inc.’s Power Brands.
Rooted in its mission to educate and inspire, Supergoop!’s Ounce by Ounce program ships complimentary Supergoop! to classrooms across America and the brand recently received recognition on Inc.’s Best in Business: Most Inspiring Companies list.
“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 Thaggard. “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 skin care, 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.”
Terms of the transaction, which is subject to customary closing conditions, were not disclosed.