TSG Consumer Partners continues to sell off brands in its beauty portfolio.
The private equity fund has sold its stake in Perricone MD to Lion Capital. No financial details were disclosed.
The clinical skin-care brand was founded in 1997 by Dr. Nicholas Perricone. It rose to prominence with the wave of doctor brands shortly after its launch, and aimed to push the boundaries in skin care with products such as No Makeup Skincare and Blue Plasma daily peel.
Industry sources said Perricone MD generates $75 million to $100 million in wholesale sales. The luxury-priced line is sold by retailers such as Sephora and Nordstrom.
TSG also just inked a deal with Henkel AG to sell three U.S. professional hair brands in a cash deal worth 270 million euros, or $368.2 million at current exchange. Subject to approval, the brands include Sexy Hair, Alterna and Kenra.
Earlier this year, TSG sold a minority stake in E.l.f. Cosmetics to TPG Growth.