Blackstone Growth Buys a Majority Stake in Supergoop
Posted on 01/02/2022
Supergoop (Supergoop!) is a San Antonio, Texas-based sunscreen brand. Revealed on December 20, 2021, funds managed by Blackstone Growth (BXG) inked a definitive agreement for a majority investment in Supergoop. Supergoop is founded by former teacher and skincare industry pioneer Holly Thaggard. Thaggard launched the brand in 2005, after a close friend was diagnosed with skin cancer at age 29.
Investors who will continue to support Supergoop in its next phase of growth include The Thaggard and Emery families, Encore Consumer Capital, CULT Capital, Green Park & Golf Ventures, CircleUp, Grace Beauty, and SWAT Equity.
Advisors
Supergoop was advised by Goldman Sachs and GreenbergTraurig. Blackstone’s financial advisor for the transaction was Raymond James & Associates, Inc. and legal advisor was Simpson Thacher & Bartlett LLP. Terms of the transaction, which is subject to customary closing conditions, were not disclosed.
Keywords: Blackstone Group LP.