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Parent company of Beautycounter takes control as founder Ali Hewson and husband Bono become investors.
June 28, 2016
By: Christine Esposito
Editor-in-Chief
Counter Brands, LLC, parent company of Beautycounter has acquired the worldwide assets of Nude Skincare, Inc. and Nude Brands, Ltd. Founded by Ali Hewson, Nude's line of natural, high performance beauty products was previously part of the LVMH portfolio. Under Counter Brands leadership, the two brands will now grow the Beautycounter and Nude skincare and cosmetics lines globally from US headquarters outside of Los Angeles, and UK headquarters near London. The deal structure establishes Counter Brands UK to lead international expansion of the two brands. As part of the deal, Hewson will join the board of Counter Brands, LLC, and she and her husband Bono (of U2), will become investors in the company. Also joining as investors in Counter Brands are entrepreneur Bryan Meehan, who originally envisioned and created Nude with Hewson, and global investor Paddy McKillen. Financial terms of the deal were not disclosed. “Our mission is to get safer, high-performing products into the hands of everyone, and this acquisition advances that goal. Together we can deliver better products to more people across the globe,” said Gregg Renfrew, founder and CEO of Beautycounter. “In reaching more consumers with both Beautycounter and Nude, we can advance support for our movement in Washington. Ali and her team at NUDE share the same unwavering commitment to education, safer products, and better laws that will move the beauty industry forward worldwide. I am excited for what the future holds.” According to Hewson, In Beautycounter, “we found our company's soul mate. I couldn't be more thrilled about Nude's partnership with Beautycounter and I am looking forward to working closely with Gregg and her team. Their commitment to transparency in ingredients is second to none and I hope it will soon be par for the course for more companies. Consumers have a right to know what is in the products they put on their skin, and they shouldn't be faced with a false choice between safety and effectiveness. Beautycounter is leading the movement for better beauty and I'm excited to be joining forces with them.” Beautycounter products are sold through 20,000+ independent consultants across North America, on Beautycounter.com, within specialty retail locations and as a limited edition collection at U.S. Target stores launching September. Nude products are currently available in the US on Sephora.com, across Europe in Space.NK stores and online, in Australia in Mecca stores and Mecca.com.
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