Additional terms of the transaction were not disclosed.
Rodan + Fields, founded by Dr. Katie Rodan and Dr. Kathy Fields, is one of the fastest-growing brands in beauty and personal care in the US.
“TPG’s successful track record growing iconic brands and their belief in our disruptive model, innovative products, and powerful Independent consultant community make them an excellent partner,” said Diane Dietz, CEO and president of Rodan + Fields. “We are energized by the opportunities that lie ahead of us as we expand domestically and globally and look forward to optimizing our strengths with TPG’s expertise.”
The minority investment by TPG will provide Rodan + Fields with access to best-in-class business building expertise, capabilities, and resources as the brand continues its path of disruptive growth domestically and in new markets across the globe. The Founders will remain at the heart of the brand and committed to their vision, while the Company’s Senior Leadership team will keep leading the strategy for growth and day-to-day operations.
“As a firm with a history of investing in businesses that are fundamentally changing their industries, we see Rodan + Fields as being at the intersection of emerging consumer trends and technology disruptions,” said Jim Coulter, co-CEO and co-founder of TPG. “This is exactly the kind of partnership we look for—an outstanding brand with proven success, an experienced and talented management team, and significant runway for growth."