Los Angeles-based Monogram Capital Partners private equity firm has acquired a majority stake in Tru Fragrance & Beauty. This builds on Tru’s growth over the past three years in which company-owned brands doubled revenue.
 
Tru is Monogram’s seventh investment in the beauty industry in the past five years. The firm’s other beauty investments include Beach House Group, D.S. & Durga, Foundry, Live Tinted, Violette_FR and contract manufacturer Prime Matter Labs. 
 
Tru’s portfolio is focused on clean and differentiated formulations with community-driven marketing to capitalize on strong tailwinds in the fragrance market. The Le Monde Gourmand fragrance brand recently launched in Ulta as well as in ASOS in the UK. The Lake & Skye brand also has licensed perfumes and colognes with Yellowstone and Wrangler.
 
Monogram will help Tru expand distribution in the U.S., Canada, U.K., Europe, and beyond as well as support the launch of new brands and licensing relationships.
 
Tru Fragrance & Beauty CEO, Eric Bilenko commented, “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.”
 
Tru’s Executive Chairman Monte Henige shared, “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.”
 
Oliver Nordlinger, Monogram Co-Founder & Partner, added, “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.”