Supergoop, a sunscreen company, has had a change in ownership. Blackstone has bought the majority stake in the company. Those in the know have subsequently estimated its valuation at around $600-$700 million.
According to Supergoop, founder Holly Thaggard and CEO Amanda Baldwin will retain significant equity ownership after the sale. Ann Chung, global head of consumer for Blackstone Growth, reports that the company has not decided on an exit for the deal.
During the transaction, Goldman Sachs Group Inc. advised Supergoop, while Raymond James & Associates Inc. advised Blackstone. Firms such as CULT Capital, Encore Consumer Capital, Green Park & Gold Ventures, Grace Beauty, SWAT Equity and CircleUP will advise Supergoop in their next stage of growth.
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