L Catterton has partnered with actress Naomi Watts to acquire her brand Stripes Beauty.
The investment firm has teamed up with the movie star to buy the two-year-old menopause-focused range for an undisclosed sum.
Watts founded Stripes Beauty in 2022 in collaboration with synthetic biotech company Amyris.
The brand aims to normalise conversations around the menopause and offers a range of “science-backed” products, including a thickening scalp treatment and body oils.
Stripes Beauty was sold at auction to Sakana LLC in December 2023 after Amyris filed for Chapter 11 bankruptcy, with Watts listed as Managing Member.
L Catterton plans to scale up Stripes Beauty’s D2C offering and presence on online retailer Amazon this year, as well as launching the brand on QVC Canada.
It will also expand the brand into sleep support with supplement The Dream Date.
"This is an exciting moment for Stripes Beauty, and I am grateful to L Catterton for believing in our brand and sharing our vision of supporting women in menopause," said Watts.
"Stripes Beauty's mission, products and community are deeply meaningful to me."
Naomi Watts founded Stripes Beauty in 2022
L Catterton will also fuel the brand's growth under the new leadership of Executive Chair Debra Perelman, who was previously CEO of make-up company Revlon.
Former L'Oréal executive Cara Kamenev has been named President.
"As consumer-focused investors, we have followed the success of Stripes Beauty and believe in their mission to develop a community of support for women as they age," said Whitney Casey, who led the deal for L Catterton.
"We are proud to invest in women and contribute to developing a health platform to address the full range of women's unique lifestyle needs."
Investment firm L Catterton has been expanding its beauty portfolio of late.
The firm has backed beauty incubator Squared Circles and snapped up a majority stake in Italian cosmetics brand Kiko Milano.
It has also invested in synthetic collagen maker Trautec, Californian skin care brand Eighth Day and Swedish professional hair care Maria Nila over the past 12 months.