Monogram Capital Partners, a Los Angeles-based private equity firm that invests in consumer brands and services companies, has acquired a majority stake in Tru Fragrance & Beauty.
The firm's investment will serve to accelerate Tru's growth and scale, supporting expanded distribution in the U.S., Canada, U.K., Europe, and beyond, launching new brands and licensing relationships, bringing synergistic brand marketing and operational resources, and fostering a continued focus on talent development and complementary acquisitions.
Tru Fragrance & Beauty features a suite of fragrance lifestyle brands, including Le Monde Gourmand, which recently launched at Ulta Beauty, as well as ASOS and Lake & Skye.
Tru's executive chairman Monte Henige said, "Our partnership with Monogram is not a culmination but a furtherance of our vision and mission, affirming our talent-driven culture and positioning us for even greater success."
Eric Bilenko, Tru's CEO, continued, "Monogram's expertise in identifying and growing innovative consumer brands bolsters our own approach to best-in-class consumer experiences in the fragrance and beauty space. We look forward to building on our platform through accelerated growth of our own brands, the launch of new brands, and the addition of strategic acquisitions, leveraging Monogram's extensive experience in each of these key areas."
Oliver Nordlinger, Monogram co-founder and partner, said, "We're incredibly excited to partner with Monte, Eric, and the rest of the Tru team to build on their impressive momentum. We believe Tru is differentiated not only in its ability to identify and build brands around whitespace opportunities but also in its nimble and sophisticated global supply chain and exceptional company culture. Whether it's by expanding distribution of existing brands, launching new owned or licensed brands or making strategic brand acquisitions, we expect Tru's growth to only accelerate from here."
