Now owned by The Carlyle Group, the US cosmetics brand and retailer is best known for its The Never List
Beautycounter, the US 'clean' beauty brand and retailer, is now valued at $1bn, following a merger with investment company The Carlyle Group.
The deal sees the world's second-largest private equity firm take a majority stake in the cosmetics brand, positioning the Beautycounter for accelerated growth, including bolstering its omni-channel business model and boosting brand awareness.
Founded in 2013, Beautycounter is best known for its 'The Never List' which bans 1,800 ingredients from its product formulations and lobbying the US government over product safety legislation.
"I launched Beautycounter with the simple mission to get safer products into the hands of everyone,” said Gregg Renfrew, founder and CEO of Beautycounter.
"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.
"I have long admired Jay 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."
Jay Sammons, Head of Global Consumer, Media & Retail for The Carlyle Group, described Beautycounter as a "pioneer" in the 'clean' beauty industry.
"We see an opportunity to support a talented, founder-led team in amplifying the brand’s mission to change beauty forever," he continued.