​​Monogram Capital Partners announced on Tuesday it ha acquired a majority stake in Tru Fragrance & Beauty, the beauty brand builder whose portfolio includes owned, licensed, and exclusive fragrance and beauty brands.

Financial terms of the deal were not disclosed.

​The Los Angeles firm’s investment will serve to accelerate Tru’s growth and scale, supporting expanded distribution in the U.S., Canada, U.K., Europe, and beyond, launching new brands and licensing relationships, bringing synergistic brand marketing and operational resources, and fostering talent development and complementary acquisitions, according to a press release.

“Monogram’s expertise in identifying and growing innovative consumer brands bolsters our own approach to best-in-class consumer experiences in the fragrance and beauty space,” said Eric Bilenko, Tru’s chief executive officer.

“We look forward to building on our platform through accelerated growth of our own brands, the launch of new brands, and the addition of strategic acquisitions, leveraging Monogram’s extensive experience in each of these key areas.”

The investment in True serves as Monogram’s seventh investment in the beauty space in the past five years, with other beauty investments including Beach House Group, D.S. & Durga, Foundry, Live Tinted, Violette_FR, and Prime Matter Labs, a contract manufacturer.

“We’re incredibly excited to partner with Monte, Eric, and the rest of the Tru team to build on their impressive momentum,” said Oliver Nordlinger, Monogram co-founder and partner.

“We believe Tru is differentiated not only in its ability to identify and build brands around whitespace opportunities but also in its nimble and sophisticated global supply chain and exceptional company culture.  Whether it’s by expanding distribution of existing brands, launching new owned or licensed brands or making strategic brand acquisitions, we expect Tru’s growth to only accelerate from here.”

Founded in 1969 and acquired by current executives in 2004, Tru Fragrance & Beauty operates out of Willowbrook, Illinois, and New York City. The company’s suite of fragranced lifestyle brands include Le Monde Gourmand, which recently launched in 700 Ulta doors and on Ulta.com, as well as with ASOS in the UK; fragrance-as-wellness brand Lake & Skye; and licensed perfumes and colognes with Yellowstone and Wrangler.