Blackstone Growth Buys Sunscreen Brand Supergoop Majority Stake

Blackstone Inc.’s growth fund is buying a majority stake in Supergoop!, the 15-year-old sunscreen brand.

The senior management of Supergoop, including founder Holly Thaggard and Chief Executive Officer Amanda Baldwin, will retain significant equity ownership after the transaction, according to the company.

The deal values Supergoop at about $600 million to $700 million, people with knowledge of the matter said, asking not to be identified discussing private information. Representatives for the San Antonio, Texas-based company and Blackstone declined to comment on the transaction terms.

The acquisition seals a year of active dealmaking in the personal care space with ...