TPG said its minority stake will help Rodan + Fields continue to “accelerate its next phase of growth as it transforms the skin care industry with its dermatology-inspired skin care products, disruptive consumer connected commerce model, and powerful consultant community.”
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, while the senior leadership team will lead the strategy for growth and day-to-day operations.