The transaction is Gryphon's second investment in the beauty sector after the firm acquired Indie color cosmetics brand Milani Cosmetics in June 2018.
Gryphon executive advisors Steve LaMonte and Michelle Taylor will serve as advisors to RoC, with Lamonte acting as executive chairman. In addition to LaMonte, Taylor, along with select individuals from Gryphon, will join the Board of Directors. As part of the carve-out transaction, LaMonte and Taylor will be focused on recruiting the “go-forward” senior management team to lead RoC under Gryphon's ownership.
Matt Farron, principal at Gryphon, said, "RoC has a rich history of skincare solutions innovation stemming from its French pharmacy roots. As the first brand to stabilize Retinol, which is one of the top U.S. dermatologist-recommended cosmetic ingredients for improving the appearance of aging skin, RoC continues to be one of the largest brands solely focused on anti-aging skincare products. By leveraging the brand's French pharmacy heritage and track record of clinically proven innovation, we see numerous opportunities to expand RoC's product offering to establish it as a brand with complete skincare solutions leading to increased market share."
The brand is now headquartered in Manhattan.