Monogram Capital Partners acquires majority stake in Tru Fragrance & Beauty
Los Angeles-based private equity firm Monogram Capital Partners has acquired a majority stake in Tru Fragrance & Beauty.
Tru Fragrance & Beauty’s roster of brands includes Le Monde Gourmand, which recently expanded its distribution to 700 Ulta Beauty stores and on its e-commerce platform, and also is available on Asos in the U.K.
“Our partnership with Monogram is not a culmination but a furtherance of our vision and mission, affirming our talent-driven culture and positioning us for even greater success,” said Eric Bilenko, Tru’s chief executive officer. “Monogram’s expertise in identifying and growing innovative consumer brands bolsters our own approach to best-in-class consumer experiences in the fragrance and beauty space. We look forward to building on our platform through accelerated growth of our own brands, the launch of new brands, and the addition of strategic acquisitions, leveraging Monogram's extensive experience in each of these key areas.”
[Read more: Beautycounter enters fragrance space]
Other brands part of the company include Lake & Syke and licensed perfumes and colognes with Yellowstone and Wrangler.
“We’re incredibly excited to partner with Monte, Eric, and the rest of the Tru team to build on their impressive momentum. We believe Tru is differentiated not only in its ability to identify and build brands around whitespace opportunities but also in its nimble and sophisticated global supply chain and exceptional company culture,” said Oliver Nordlinger, Monogram co-founder and partner. “Whether it’s by expanding distribution of existing brands, launching new owned or licensed brands or making strategic brand acquisitions, we expect Tru’s growth to only accelerate from here.”
Tru represents Monogram’s seventh investment in the beauty space in the past five years. Its other investments include Beach House Group, D.S. & Durga, Foundry, Live Tinted, Violette_FR, and Prime Matter Labs.
