Deal Structure with LVMH Results in Beautycounter Investment from NUDE Founder Ali Hewson and Bono
SANTA MONICA, Calif., June 27, 2016 /PRNewswire/ -- Counter Brands, LLC, parent company of Beautycounter®, the leader in safer skincare and cosmetics, today announced that the company has acquired the worldwide assets of NUDE Skincare, Inc. and NUDE Brands, Ltd. Founded by Ali Hewson, NUDE's line of natural, high performance beauty products was previously part of the LVMH portfolio.
Under Counter Brands leadership, the two brands will now grow the Beautycounter and NUDE skincare and cosmetics lines globally from U.S. headquarters outside of Los Angeles, and U.K. headquarters near London. The deal structure establishes Counter Brands U.K. to lead international expansion of the two brands.
As part of the deal, Ali Hewson will join the board of Counter Brands, LLC., and she and her husband Bono, the musician and social activist, will become investors in the company. Also joining as investors in Counter Brands are entrepreneur Bryan Meehan, who originally envisioned and created NUDE with Hewson, and global investor Paddy McKillen. Financial terms of the deal were not disclosed.
Gregg Renfrew, Founder and Chief Executive Officer at Beautycounter, said, "Our mission is to get safer, high-performing products into the hands of everyone, and this acquisition advances that goal. Together we can deliver better products to more people across the globe. In reaching more consumers with both Beautycounter and NUDE, we can advance support for our movement in Washington. Ali and her team at NUDE share the same unwavering commitment to education, safer products, and better laws that will move the beauty industry forward worldwide. I am excited for what the future holds."
Ali Hewson, founder of NUDE said: "We created NUDE because we wanted to develop beauty products that are as safe and natural as they are effective. In Beautycounter, we found our company's soul mate. I couldn't be more thrilled about NUDE's partnership with Beautycounter and I am looking forward to working closely with Gregg and her team. Their commitment to transparency in ingredients is second to none and I hope it will soon be par for the course for more companies. Consumers have a right to know what is in the products they put on their skin, and they shouldn't be faced with a false choice between safety and effectiveness. Beautycounter is leading the movement for better beauty and I'm excited to be joining forces with them."
Beautycounter is known for its Never List™ of more than 1,500 ingredients banned when creating its products; NUDE is known for its Beautiful Without™ formulation standards, which are closely aligned and were fundamental to the decision behind the acquisition. Beautycounter products are sold through 20,000+ independent consultants across North America, on Beautycounter.com, within specialty retail locations and as a limited edition collection at U.S. Target stores launching September 2016. NUDE products are currently available in the US on Sephora.com, across Europe in Space.NK stores and online, in Australia in Mecca stores and Mecca.com.
Beautycounter develops and distributes nearly 100 products across skincare, color cosmetics, advanced anti-aging, kids, baby and personal care collections. Nude develops and distributes treatment oils and serums, cleansers and toners, moisturizers, masks and exfoliators, and eye care for a wide range of skin types and concerns.
Beautycounter offers a higher standard to consumers through safer skincare, cleaner cosmetics and better beauty. The Santa Monica, CA-based brand drives a national movement for improved transparency and accountability in the beauty industry, including advocacy to update federal regulations that have stood largely unchanged since 1938. The company's mission is "to get safer products into the hands of everyone." Beautycounter develops and distributes nearly 100 products across skincare, color cosmetics, advanced anti-aging, kids, baby and personal care collections. Beautycounter, a Certified B Corporation, leads the safer beauty category with its rigorous Ingredients Selection Process™, banning parabens, phthalates and more than 1,500 other ingredients when creating its products. Founded by Gregg Renfrew in 2011, Beautycounter launched in 2013 as a direct-retail brand that is now available through 20,000+ consultants across North America, online at Beautycounter.com, and through strategic partnerships including J.Crew, goop, and a limited-edition collection with Target launching Fall 2016. For more information, please visit www.beautycounter.com.
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