THE WHAT? TPG has largely exited its investment in Anastasia Beverly Hills through a debt restructuring, significantly eroding its approximately US$600 million stake in the cosmetics company.
THE DETAILS The private equity firm acquired around 38% of the brand in a leveraged deal and now holds an estimated 6% following the restructuring. The move comes as Anastasia works with lenders to refinance upcoming loan maturities after operating under forbearance and missing a loan payment, which triggered credit downgrades. Founder Anastasia Soare is reported to be considering a capital injection as part of the talks.
THE WHY? The outcome underscores the growing strain on leveraged beauty investments as brands face slower growth and refinancing pressure in a tighter credit environment.
Source: Bloomberg
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