Beautycounter acquired by founder Gregg Renfrew

Clean beauty brand Beautycounter has been acquired on April 18 by founder Gregg Renfrew, according to multiple reports. 

According to the news outlets, Renfrew and other private investors have secured the U.S. label from investment firm Carlyle Group for an undisclosed sum.

Renfrew will retain the Beautycounter’s name and assets, and its products and formulations will stay the same. In addition, the U.S. beauty brand will retain the vast majority of its direct sales associates, with two stores shuttering.

Operations will be paused for two weeks, and Beautycounter will officially relaunch on May 1. All existing retail partnerships, like those with Ulta Beauty, will remain intact, according to reports.

The Carlyle Group acquired a majority stake in Beautycounter in 2021, in a groundbreaking deal for clean beauty that gave Beautycounter a $1 billion valuation. 

Due to a change in its investment strategy and Beautycounter’s underwhelming sales performance, Carlyle reportedly wanted to offload the clean beauty brand and had been looking for interested parties with the help of Goldman Sachs.

Founded in 2013, Beautycounter is a clean beauty brand that is void of more than 2,800 ingredients in its products. In 2022, Marc Rey, former chief executive of Shiseido Americas, was appointed CEO, before Renfrew returned to Beautycounter to replace him, in February this year.

In March, the brand debuted its first fragrance line.