07.27.15
Castanea Partners has acquired a minority interest in First Aid Beauty, also known as FAB.
Terms of the transaction were not disclosed.
Founded in 2009 by beauty industry veteran Lilli Gordon, FAB is distributed through Sephora, as well as other domestic and select international beauty retail and ecommerce retailers such as Dermstore.com
Steve Berg, managing partner at Castanea, and Janet Gurwitch, operating partner at Castanea and former founder and CEO of Laura Mercier, will be joining Clive Bode and Karen Mills on First Aid Beauty’s board of directors.
“First Aid Beauty is uniquely positioned in the personal care and beauty industry, and is an exciting opportunity for Castanea,” said Steve Berg. “We very much look forward to working closely with Lilli and the team to support the company’s continuing growth.”
“Lilli and the team have developed a differentiated brand in the prestige category with a compelling range of products,” said Gurwitch. “FAB has great potential, and we are thrilled to be part of the next stage of their growth.”
“Having personally grown FAB every step of the way, I could not imagine a better partner than Castanea,” noted Gordon, who is CEO. "They embrace our brand philosophy and have a deep understanding of the sector and a proven track record. We look forward to working together to fuel our original rescue mission to provide easy to use, effective, feel good solutions for universal skin challenges.”
Financo represented First Aid Beauty in the transaction.
Castanea currently owns stakes in Thymes and Drybar; previous investments include Urban Decay.
Terms of the transaction were not disclosed.
Founded in 2009 by beauty industry veteran Lilli Gordon, FAB is distributed through Sephora, as well as other domestic and select international beauty retail and ecommerce retailers such as Dermstore.com
Steve Berg, managing partner at Castanea, and Janet Gurwitch, operating partner at Castanea and former founder and CEO of Laura Mercier, will be joining Clive Bode and Karen Mills on First Aid Beauty’s board of directors.
“First Aid Beauty is uniquely positioned in the personal care and beauty industry, and is an exciting opportunity for Castanea,” said Steve Berg. “We very much look forward to working closely with Lilli and the team to support the company’s continuing growth.”
“Lilli and the team have developed a differentiated brand in the prestige category with a compelling range of products,” said Gurwitch. “FAB has great potential, and we are thrilled to be part of the next stage of their growth.”
“Having personally grown FAB every step of the way, I could not imagine a better partner than Castanea,” noted Gordon, who is CEO. "They embrace our brand philosophy and have a deep understanding of the sector and a proven track record. We look forward to working together to fuel our original rescue mission to provide easy to use, effective, feel good solutions for universal skin challenges.”
Financo represented First Aid Beauty in the transaction.
Castanea currently owns stakes in Thymes and Drybar; previous investments include Urban Decay.