SCHENECTADY — French investment group Eurazeo is acquiring a controlling stake in Beekman 1802, a clean beauty brand offering a line of goat milk-based skincare and body care products with headquarters in Schenectady.
Eurazeo is investing $62 million out of a total of $92 million to acquire a majority stake alongside co-investors Cohesive Capital Partners and the Cherng Family Trust. Eurazeo’s Brands team has invested over $600 million in North American and European consumer brands since 2017.
Founded in 2009 by Dr. Brent Ridge and Josh Kilmer-Purcell in Sharon Springs, NY, Beekman has grown into a successful brand with a diverse array of beauty wellness products. Beekman’s commitment to sustainability, kindness, authenticity, and community, is a key differentiator in today’s $9 billion global prestige skincare market.
Eurazeo’s investment will support the continued expansion of Beekman 1802 across multiple channels, categories, and geographies, leveraging and further enhancing the brand’s storytelling capabilities and products. As part of Eurazeo’s investment, Marc Rey, former CEO of Shiseido Americas, will join the Company’s Board of Directors as Chairman, alongside Adrianne Shapira, Managing Director, and George Birman, Principal at Eurazeo.
Adrianne Shapira, Managing Director, Eurazeo Brands, said:
“Brent, Josh and the entire Beekman team have created a truly special brand that resonates with today’s beauty consumers seeking aspirational yet accessible products that are clean and effective. With kindness at its core, Beekman is also spreading beauty from within. We are thrilled to partner with Beekman to propel their next chapter of growth, leveraging our deep industry expertise to help them reach consumers on a global scale in the years ahead.”
Brent Ridge and Josh Kilmer-Purcell, Beekman 1802 co-founders, added:
“When we started Beekman 1802 over a decade ago, we were focused on helping our community; over the years we have been fortunate to grow that community near and far through our unique products that are kind to sensitive skin and our use of Kindness as a framework for wellness and well-being. Today we couldn’t be more excited to embark on Beekman’s next journey together with Eurazeo, a partner with strong brand building expertise that will help us grow our community of neighbors and spread kindness globally.”
