Blackstone’s growth fund has bought a majority stake in sunscreen brand Supergoop at a $600 million to $700 million valuation, according to a report by Private Equity Insights.
The firm said Blackstone’s investment will boost the company’s product range into the athletes and babies markets, and also extending its geographical reach to China.
Goldman Sachs Group Inc advised Supergoop on the transaction, while Raymond James & Associates Inc advised Blackstone.
Read more: Private Equity Wire
