Investment group Eurazeo has purchased a controlling stake in premium skin care and body care brand Beekman 1802.
Founded in 2009 by Dr Brent Ridge and Josh Kilmer-Purcell, the Sharon Springs, New York-based label claims to be the world’s biggest goats milk skin care company.
Eurazeo invested US$62m out of a total of $92m to acquire a majority stake alongside co-investors Cohesive Capital Partners and the Cherng Family Trust.
According to Eurazeo, the funding will support Beekman 1802’s continued expansion across channels, categories and products.
And, as part of the deal, Marc Rey, former CEO of Shiseido Americas, will join the Company’s Board of Directors as Chairman, alongside Adrianne Shapira, Managing Director, and George Birman, Principal at Eurazeo.
“When we started Beekman 1802 over a decade ago, we were focused on helping our community; over the years we have been fortunate to grow that community near and far through our unique products that are kind to sensitive skin and our use of kindness as a framework for wellness and wellbeing,” said Ridge and Kilmer-Purcell.
“Today we couldn’t be more excited to embark on Beekman’s next journey together with Eurazeo, a partner with strong brand building expertise that will help us grow our community of neighbours and spread kindness globally.”
Eurazeo’s Shapira added: “Brent, Josh and the entire Beekman team have created a truly special brand that resonates with today’s beauty consumers seeking aspirational yet accessible products that are clean and effective.
“With kindness at its core, Beekman is also spreading beauty from within.
“We are thrilled to partner with Beekman to propel their next chapter of growth, leveraging our deep industry expertise to help them reach consumers on a global scale in the years ahead.”