Driven by a suite of fragranced lifestyle brands that include Gen-Z favorite 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’s portfolio has focused on clean and differentiated formulations and community-driven marketing to capitalize on strong tailwinds in the fragrance market.
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. The firm’s investment will serve to accelerate Tru’s growth and scale, supporting expanded distribution in the U.S., Canada, U.K., 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.
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.” Eric Bilenko, Tru’s Chief Executive Officer, continued, “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.”
Oliver Nordlinger, Monogram Co-Founder & Partner, added, “We’re incredibly excited to partner with Monte, Eric, and the rest of the Tru team to build on their impressive momentum. 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.”
Capital Southwest provided debt financing for the transaction. Willkie Farr & Gallagher LLP and Kilpatrick Townsend & Stockton LLP served as legal advisors to Monogram and Tru, respectively.
About Tru Fragrance & Beauty: Founded in 1969 and acquired by current executives in 2004, Tru Fragrance & Beauty operates out of Willowbrook, IL and New York City. In addition to the company’s branded portfolio – namely Le Monde Gourmand, Lake & Skye, Yellowstone, and Wrangler – Tru also develops fragrance brands exclusively for retail partners. Tru maintains a premier position as a multidisciplinary innovation engine and supplier, with a roster of A-list celebrity and retail partners that include ULTA, Nordstrom, Blue Mercury, AEO, Target, TJ Maxx, and UO, among many others. For more information about Tru Fragrance & Beauty, please visit www.trufragrance.com.
About Monogram Capital Partners: Headquartered in Los Angeles, CA, Monogram currently manages over $850 million in RAUM and focuses exclusively on investing in leading consumer brands and service providers. With an operationally-oriented mindset, the firm seeks to partner with inspiring founders and strong management teams to help them achieve their full potential, investing up to $75 million of equity per transaction. For more information about Monogram, please visit www.monogramcapital.com.
Contact: Erin Kelly PR
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SOURCE Tru Fragrance & Beauty
