Lime Crime, the makeup indie brand known for its cruelty-free and vegan products, announced today it has been acquired by Tengram Capital Partners, a private equity firm that focuses exclusively on branded consumer and retail companies. Following the acquisition, Stacy Panagakis, formerly General Manager of Fresh, is joining Lime Crime as Chief Executive Officer.

Founded by entrepreneurs Doe Deere and Mark Dumbelton in 2008, Lime Crime is a pioneering, digitally native beauty brand. For years, Lime Crime has set sevral trends that have taken the beauty industry by storm — from its Unicorn Lipsticks in a rainbow of shades and Velvetines (starting the ultra-matte liquid lip craze), to its best-selling Diamond Crushers lip toppers and most recently, Unicorn Hair (with the name that says it all).

The brand today has become an international phenomenon, with customers from Los Angeles to Singapore to London. Lime Crime is in high demand at leading retailers including Bloomingdales, Riley Rose and, where it ranks as a leading colour cosmetics brand, and has recently launched in the UK, originally online with Cult Beauty, and recently with FeelUnique and Selfridges.

The Tengram acquisition will support Lime Crime’s growth strategy. A digital-first company, Lime Crime will continue to focus on its flagship, while also pursuing select retail partnerships to make its products available to more consumers, wherever they shop. After listening to its consumers, the brand is also creating a broader selection of products, introducing new categories and bringing its innovative formulations to further enchant the Lime Crime global community.