Deals
Blackstone Buys Majority Stake in Sunscreen Brand Supergoop
- Company is said to be valued at as much as $700 million
- Investment will fuel product and regional expansion, said CEO
A sign stands outside the offices of Blackstone Group LP in Luxembourg.
Photographer: Geert Vanden Wijngaert/BloombergThis article is for subscribers only.
Blackstone Inc.’s growth fund is buying a majority stake in Supergoop!, the 15-year-old sunscreen brand.
The senior management of Supergoop, including founder Holly Thaggard and Chief Executive Officer Amanda Baldwin, will retain significant equity ownership after the transaction, according to the company.