Prestige body care label Osea Malibu has received a strategic growth investment from General Atlantic Partners, the companies announced on Tuesday. Financial terms of the deal were not disclosed.
The partnership “will create exciting opportunities for innovation and global expansion, while remaining true to our roots and shared values,” said chief executive and co-founder Melissa Palmer in a statement. Mother-daughter co-founders Jenefer and Melissa Palmer will retain a majority stake and stay on to support the brand’s day-to-day operations and high-level strategy.
Founded by in California in 1996, the brand has become known for its body and skin care formulas incorporating marine ingredients like seaweed, and is stocked widely at retailers including Ulta Beauty in the US and Mexico, Credo Beauty and in department stores, as well as Mecca in Australia. Its hero Algae Body Oil is the number one body SKU at premium beauty retailer Bluemercury. In 2024, the brand’s annual revenue was estimated at $100 million.
General Atlantic managing partner Andrew Ferrer and principal Ben Sherman will join Osea’s board of directors. “Osea is a rare brand that combines three decades of family values, consumer trust, and category leadership,” said Ferrer in the statement.
General Atlantic’s portfolio spans a range of technology, financial and consumer goods companies. This year, the firm purchased fragrance brand Kayali alongside its co-founder Mona Kattan, and previously owned cosmetics maker Morphe.
In 2020, Osea received a growth investment from Cavu Consumer Partners, which will exit its investment following the close of the transaction. It was reported in 2024 that Osea would be acquired by Japanese conglomerate Shiseido, but negotiations ended before a deal was made.
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