Beautycounter founder Gregg Renfrew, who sold her company to the private equity firm Carlyle Group in a $1 billion dollar deal in 2021, has purchased the clean beauty line this week. Renfrew exited the company’s executive team in 2022, remaining on the board of directors, before returning as CEO in January.
Renfrew will now wind down Beautycounter’s holding company, Counter Brands LLC, and create a new entity that will retain the brand’s name and assets as well as its well-known formulations and products.
The Carlyle Group reportedly increased marketing spend and invested in an enhanced omnichannel strategy, including placement in Ulta retail stores, but continued to face market challenges.
Operations with the company are expected to pause for a period of two weeks before officially relaunching on May 1.
