Beautycounter founder Greg Renfrew is buying her brand back from foreclosure, she said Thursday.
In a statement, Beautycounter said due to various circumstances, the business’ holding company, Counter Brands LLC is winding down and founder and CEO, Gregg Renfrew, is creating a new entity and has entered into a separate transaction to buy the business.
Renfrew founded the brand with a focus on avoiding potentially problematic personal care ingredients.
The company cut jobs Wednesday, but as of now it is not know how many staffers were impacted.
In 2021, Renfrew sold a majority stake in the brand to private equity firm The Carlyle Group in a transaction that valued the business at $1 billion. In January 2022, industry veteran Marc Rey was brought in as chief executive officer, but he departed a year later. Renfrew returned as CEO in January 2024.
The Carlyle Group has been public about its change in strategy away from U.S. consumer products.
