California-based beauty line Beautycounter is eyeing international expansion with its new acquisition of NUDE Skincare, Inc. and NUDE Brands, Ltd., a line of natural beauty products founded by Ali Hewson, the wife of musician and social activist Bono.
“In Beautycounter, we found our company’s soul mate,” said Ali in a statement. “[They are] leading the movement for better beauty and I’m excited to be joining forces with them.”
NUDE was purchased from the LVMH portfolio, and as part of the deal, Ali will join the board of Counter Brands, LLC., the parent company of Beautycounter, and she and Bono will become investors in the company. Entrepreneur Bryan Meehan, who created NUDE with Ali, and global investor Paddy McKillen will also join as investors.
The deal will allow Counter Brands to expand its global presence as Beautycounter products are currently only offered in the U.S. and Canada, compared to NUDE’s which is available throughout the US, Canada, UK, Australia and New Zealand. Additionally, Counter Brands U.K. has been created to lead the full international expansion of the two brands.
The deal could potentially be the first step in forming a natural beauty powerhouse as the conscious-consumer phenomenon is becoming more prevalent in beauty.
“Our mission is to get safer, high-performing products into the hands of everyone, and this acquisition advances that goal,” said Gregg Renfrew, Founder and Chief Executive Officer at Beautycounter. “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.”
Financial terms of the deal were not disclosed.