Playa Vista-based Honest Company Inc. announced June 6 that it received a $200 million minority investment from private equity firm L Catterton.
The consumer-goods company was co-founded by actress Jessica Alba in 2012 and sells baby, personal care and beauty products.
The company said in a statement that the new investment will help with its plan for global growth by opening new distribution channels in Europe. It announced an exclusive retail distribution partnership with Douglas, a beauty retailer in Europe that will begin in 2019.
Honest Co. has had a rough last few years. In June 2017, it settled a marketing fraud lawsuit for $7.35 million that alleged the company fraudulently labeled its products as natural, plant-based or chemical-free. It also did not go through with a planned IPO and according to media reports, lost out on being acquired by Unilever in 2016.
Manufacturing, retail and trade reporter Shwanika Narayan can be reached at email@example.com or 323-556-8351. Follow her on Twitter @shwanika.
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