Tru Fragrance & Beauty Acquires Majority Stake in Lake & Skye
Tru_Fragrance_&_Beauty has announced that it has acquired a majority stake in Lake & Skye. Financial terms of the deal were not disclosed, but the fragrance brand is expected to generate $25 million in sales in 2025.
According to a report published by WWD, Tru Fragrance & Beauty has held a minority stake in Lake & Skye since 2018. The company was acquired by Monogram Capital partners last year with plans to increase the manufacturer's international presence, particularly in Europe and Australia.
"The company has all the key attributes we look for in an acquisition target," said Eric Bilenko, CEO of Tru Fragrance & Beauty. "It has attractive unit economics and a clear and differentiated consumer value proposition in a crowded market. The company also has a strong history of growth and profitability. Last year, its sales nearly doubled."
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