L Catterton, a Greenwich-based private equity firm, has made a $200 million minority stake investment in The Honest Co., a consumer goods provider founded by actress Jessica Alba that specializes in eco-friendly personal care products for babies and adults.
The new investment will help The Honest Co. with its goal to launch more than 80 baby and beauty products by the end of this year. The funding from L Catterton will also help The Honest Co. expand its distribution channels – the Santa Monica, California-based company recently announced an exclusive retail distribution partnership with Douglas, a beauty retailer with more than 2,500 stores across Europe. L Catterton’s investment will not require changes in The Honest Co.’s management.
“It has always been my dream to grow The Honest Co. into a global brand,” said Alba, who founded the company in 2011. “Our mission from day one has been to empower people to live happy and healthy lives, and we are always in search of new ways to bring that to life. This partnership will enable us to empower more people in more places by delighting them with products that meet their desire for safety, design and performance.”