TSG Consumer to Acquire PHLUR

TSG Consumer, a private equity firm specializing in consumer brands, has announced it has signed a definitive agreement to acquire PHLUR, an L.A.-based fragrance brand. Chriselle Lim, creative director, will continue in her role and retain a meaningful stake alongside Ben Bennett’s The Center, a renowned beauty accelerator that partnered with PHLUR in 2021. Prelude Growth Partners will exit its investment in PHLUR as part of the transaction.

PHLUR has built a loyal community through sophisticated, sensorially rich fragrances crafted in collaboration with master perfumers. Known for bestsellers like Vanilla Skin, Heavy Cream and Missing Person, the brand has scaled rapidly through PHLUR.com and retail partners including Sephora, Amazon and Space NK.

“We’ve always believed fragrance is a deeply personal form of self-expression,” said Lim. “Our community values transparency, creativity and emotional connection. TSG Consumer shares those values, and we’re thrilled to partner with them for this next chapter.”

“TSG Consumer’s expertise in brands and understanding of the beauty space make them an ideal partner,” said Elizabeth Ashmun, CEO of PHLUR. “We’re grateful to The Center and Prelude Growth Partners for believing in us early on, and we’re now poised to accelerate PHLUR’s reach while continuing to champion the creativity that has always set us apart.”

“PHLUR’s commitment to authenticity, emotional storytelling and modern scent creation makes it a standout in today’s fast-growing fragrance market,” said Hadley Mullin, senior managing director at TSG Consumer. “We’re excited to support PHLUR’s continued growth by expanding its presence across geographies and product categories while preserving the creative vision and emotional resonance that define the brand.”

Ben Bennett, founder and CEO of The Center, added, “PHLUR’s journey has been extraordinary, and we’re proud to have supported its growth. We look forward to continuing that success with TSG Consumer’s partnership.”

Raymond James served as the exclusive financial advisor to PHLUR and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C., and Polsinelli P.C. served as legal counsel. Ropes & Gray LLP provided legal counsel to TSG Consumer. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and regulatory approval.

Information sourced from TSG Consumer. Learn more by contacting Pro-TSG-Consumer@prosek.com.