Monogram Capital acquires majority stake in Tru Fragrance & Beauty

Monogram Capital Partners, a Los Angeles-based private equity firm, has acquired a majority stake in Tru Fragrance & Beauty, whose portfolio includes owned, licensed, and exclusive fragrance and beauty brands sold to national beauty and apparel retailers and direct to consumers.

The company said in a release that having a portfolio of fragranced lifestyle brands such as Le Monde Gourmand, which recently launched in 700 Ulta doors and on Ulta.com, as well as with Asos in the UK; fragrance-as-wellness brand Lake & Skye; and licensed perfumes and colognes with Yellowstone and Wrangler, Tru has focused on clean and differentiated formulations.

Commenting on the development, Eric Bilenko, Tru's CEO said: "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 represents Monogram's seventh investment in the beauty space in the past five years. Monogram's other beauty investments include Beach House Group, D.S. & Durga, Foundry, Live Tinted, Violette_FR, and Prime Matter Labs, a contract manufacturer.

"We're incredibly excited to partner with Monte, Eric, and the rest of the Tru team to build on their impressive momentum. 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," added Oliver Nordlinger, Monogram co-founder & partner.

The company expects its investment in Tru to accelerate the company’s growth and scale, supporting expanded distribution in the US, Canada, UK, 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.