Blackstone Acquires Majority Stake in Supergoop!

Blackstone has acquired a majority stake in Supergoop!, a skin care line focused on sun protection. A purchase price was not disclosed. The company was founded in 2005 by former teacher Holly Thaggard. According to Blackstone, Thaggard, Supergoop!’s CEO Amanda Baldwin and the existing senior management team will continue to maintain significant equity ownership in the business alongside Blackstone. The investment will help fuel Supergoop!’s commitment to launch category-creating innovations; drive consumer behavior change through education and best-in-class brand marketing; and expand the company’s national and global reach.

“Over fifteen years ago, I founded Supergoop! with a mission to transform the sunscreen industry and eradicate skin cancer by making everyday essentials with SPF that people want to wear,” said Thaggard. “Today, we’ve changed consumer behavior and attitudes toward SPF through innovative products and education. We couldn’t be more thrilled to join the Blackstone family of female-founded, category-creating companies to further that mission. Their experience of driving growth around the world is exceptional and will be critical to furthering our efforts to change the way the world thinks about sunscreen.”

Thaggard launched the brand after a close friend was diagnosed with skin cancer at age 29. Her mission was to develop highly innovative dermatologist-approved, clean-ingredient SPF products that feel good to wear, make it easier to incorporate sunscreen into everyday routines and help consumers make daily sun protection a habit. Today, with nearly 50 formulas, Supergoop! has created a new category of daily-use SPF for everyone, from makeup-loving Millennials to Gen Z skincare enthusiasts, wellness-minded men to six-month-old babies. Its formulas have earned two Time Magazine’s Best Invention of the Year honors and seven consecutive Allure Best of Beauty Seals, as well as being named one of WWD Beauty Inc.'s Power Brands. 

According to Ann Chung, global head of consumer for Blackstone Growth, by creating a new category in SPF-focused skincare, Thaggard is the kind of innovative founder who is inspiring mission-driven entrepreneurs globally.

“Supergoop!’s everyday products that look and feel great while providing meaningful protection from sun damage are changing the way people view sunscreen,” said Chung. “We’re proud to support the continued expansion of this business and to welcome Holly, Amanda and their incredible management team into the Blackstone family.”

Supergoop! CEO Amanda Baldwin said the company wanted a partner who could help drive the business to reach the next level.

“We’re excited to work with the team at Blackstone because they think differently, reinforce our strengths and will help the team scale Supergoop! through expanded brand awareness, international exposure and out-of-the-box product innovation,” added Baldwin.

Blackstone's investment in Supergoop! is just its latest investment in innovative female-founded companies. This includes in just the last two years Spanx, the mission-driven womenswear brand founded by Sara Blakely; Bumble, the online dating app where women make the first move founded by Whitney Wolfe Herd; Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; Medable, a leading cloud platform for patient-centered clinical research co-founded by its CEO Dr. Michelle Longmire; Hotwire Communications, a leading provider of cutting-edge fiber-based telecommunication services co-founded by its CEO Kristin Johnson; and GeoComply, a global leader in geolocation compliance technology, co-founded by its Chairman Anna Sainsbury. This is in addition to female-led technology businesses in which Blackstone has invested, such as Ancestry.com, Articulate and Ellucian.