Lime Crime has been acquired by Tengram Capital Partners. Known for creating “makeup for unicorns” with its assortment of vibrant color cosmetics, the brand will be led by former Fresh General Manager, Stacy Panagakis, who has joined the company as Chief Executive Officer, and will work alongside Chief Creative Officer, Sasha Valentine, an eight-year veteran of the brand.

“I’m delighted to be joining the company at this pivotal moment,” said Stacy. “Lime Crime is a millennial brand with a message that resonates with women everywhere – ‘it’s OK to be bold, experiment and have fun!’ The partnership with Tengram is an important next step in the brand’s evolution, bringing deep industry expertise and greater opportunities to offer unicorns and women everywhere the Lime Crime magical universe. As we expand the brand’s footprint and offerings, Lime Crime will continue to be a brand that stands apart, fulfilling its mission to revolutionize makeup, empower women and smash traditional boundaries.”

Doe Deere, Lime Crime’s outspoken co-founder, has transitioned out of day-to-day operations and has joined the Board of Directors, an unsurprising move as the brand hasn’t been without its share of controversy under her leadership. In recent years, the brand seems to have been cleaning up its image, with Doe keeping a low-profile, notably disappearing as the public face of the brand and maintaining a relatively inactive Instagram account.

Under its new leadership, the brand will create a broader selection of products and introduce new categories, in response to consumer feedback. The Tengram acquisition will support Lime Crime’s growth strategy, which includes a focus on its digital endeavors on, while also pursuing select retail partnerships to make the brand more widely available to consumers.

Richard Gersten, Partner at Tengram, stated, “Lime Crime is a tremendous fit in our strong portfolio of beauty brands, and we look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects.”