Encore Consumer Capital invests in Supergoop!
The prestige lifestyle beauty brand Supergoop! has secured a significant minority equity investment from Encore Consumer Capital, a private equity firm that invests exclusively in consumer companies.
Founded by Holly Thaggard, Supergoop! was created to educate and inspire the world to wear ‘SPF Every. Single. Day’ and delivers on that mission with its innovative, feel good, clean ingredient formulas that fit seamlessly into the daily routines of women, men and children of all ages. The brand has always been a favourite of consumers, retailers and the press, and is poised for its next steps as consumers increasingly understand and embrace SPF as the No1 most important thing they can do for their skin's appearance and health. Supergoop!'s new executive team and breakthrough product innovation position the brand as the disruptive leader in the rapidly evolving suncare category.
"We are thrilled to partner with Encore to help us take Supergoop! to where no SPF has gone before,” says Supergoop! Founder and CEO, Holly Thaggard, an industry pioneer who has earned numerous distinctions and accolades for product and brand innovation. "I have known Kevin Murphy and the Encore team since the very early days of Supergoop!, and I am looking forward to their support as we continue our journey of changing the way the world thinks about sunscreen".
Holly and her team recognise that traditional sunscreen is the farthest thing from "feels good" and therefore strive to create products women and their families want to use – that are lightweight and easy to apply and backed by the latest innovations in UV protection and beauty trends. The brand recently launched a giving program called Ounce by Ounce in which it is providing complimentary sunscreen in pre-K, kindergarten and first classrooms across the country – many are unaware that Holly's first business plan was to have her product available in schools, so it is truly a mission come full circle.
"This is a very exciting time for Supergoop!" says Supergoop! President, Amanda Baldwin. "Our new launch, Unseen Sunscreen SPF 40 which is a totally weightless, scentless, invisible, makeup priming SPF, has blown away expectations. We have the most incredible product, brand story and retail partners. Now, it's our job to get out and tell the world about it!"
Kevin Murphy, Managing Director at Encore Consumer Capital, adds: “When I first met Holly I knew she was on to something special, and in many ways ahead of her time. It has been wonderful to watch the brand's progression and we are very excited to join the family as Supergoop! enters its next phase."
Supergoop! has continued support from earlier investors including JMK Consumer Growth, Circle Up, Grace Beauty, Green Park and Golf.