Weston Presidio Sells Stake in Too Faced Cosmetics

General Atlantic is acquiring a majority stake in Too Faced Cosmetics from Weston Presidio.

“We built Too Faced with the idea that makeup is power and should be fun, not intimidating—and our brand acceptance today proves that women everywhere share our belief in the transformative power of makeup,” said Jeremy Johnson, co-founder and CEO of Too Faced.”We are so grateful to our loyal Too Faced customers who have fueled our growth from a small indie brand to a fixture within the beauty industry. To continue our growth trajectory, we were seeking a global thought leader experienced in partnering with founder-led, high growth companies, and the team at General Atlantic was a natural fit.  Their experience will help us accelerate our expansion as we invite even more women around the world to 'own their pretty.'”

Too Faced was founded in 1998 by Johnson and Jerrod Blandino. Weston Presidio invested in the brand in 2012.

“We always dreamed that Too Faced would grow into the global brand and industry leader that it is today. After 17 years, we feel blessed to still be passionate about what we do and have fun doing it. We have so much admiration and respect for our “Too Faced Girl” and with General Atlantic's partnership, we're excited to continue making high quality makeup that she loves to wear,” added Blandino.

“Too Faced is one of the largest independent cosmetic brands with phenomenal momentum led by an outstanding and deep management team,” said Andrew Crawford, managing director and global head of General Atlantic's retail and consumer sector. “With such a prominent presence in specialty beauty retail, Too Faced is uniquely positioned to capitalize on this channel's growing popularity with consumers. We look forward to working with Too Faced's proven management team, led by industry game changers Jeremy and Jerrod and president Eric Hohl. Their passion for innovating beauty is unrivaled and has driven extraordinary business success.”

In conjunction with General Atlantic's investment, beauty industry veteran Ken Stevens will join as Too Faced's chairman, bringing a wealth of experience as former chairman of Ulta Beauty, former CEO of philosophy, and former president of Bath & Body Works. Andrew Crawford and Andrew Ferrer, both senior leaders on General Atlantic's Global Retail & Consumer sector team, will also join the board of directors.

The Too Faced founders and senior management team will retain significant ownership in the company.