Branford Castle Partners, LP (“Branford Castle”), a New York City-based private equity firm, today announced that its portfolio company, Earthlite LLC (“Earthlite”), has acquired Tara Spa Therapy, Inc. (“Tara Spa”) from Tara Grodjesk. This is the ninth transaction for Branford’s fund, which closed in late 2016.
Based in Carmel, CA, Tara Spa Therapy is a well-known brand in the lotions and creams segment of the spa industry. The Company’s end-customers include many luxury hotel chains and high-end day spas. Tara Spa Therapy was founded by Ms. Grodjesk, who has been a pioneer in Ayurvedic Medicine and Aromatherapy in the Spa industry. Ms. Grodjesk will now serve as Vice President of the Consumables Division and Chief Wellness Officer of Earthlite and will be an Earthlite shareholder as well.
“Branford’s rapid acquisition pace continues, focused on acquiring leading businesses. The acquisition of Tara Spa strengthens Earthlite’s position as a global leader in health and wellness and will allow us to significantly ramp up our growth in the consumables segment of the spa products market,” said Laurence Lederer, Managing Director at Branford Castle. “We look forward to continuing to support Earthlite’s management team as they carry on their impressive growth trajectory.”
“We have known and admired Tara Grodjesk and her company for many years, and we are delighted to welcome her as Earthlite’s first female Corporate Officer,” said CEO Jim Chenevey. “We believe that Tara will make great contributions to Earthlite’s future direction, and her line of innovative spa products should absolutely thrive under the Earthlite umbrella.”