Investment firm Compass Diversified (CODI) has acquired a stake in The Honey Pot Co., for an enterprise value of $380 million, according to a Tuesday announcement. The statement further notes that the company will continue to be run by its current leadership team, and owners, and management will retain a minority stake in the company.
“We are excited to embark on this partnership with CODI, a firm that aligns seamlessly with our values and is dedicated to championing our vision of destigmatizing feminine care through accessible products and promoting holistic wellness, both inside and out,” Dixon said in the release. “We believe that this partnership will not only enable us to sustain our commitment to innovation and education but will also empower us to continue cultivating a movement rooted in community and self-care.”
“Beatrice and her team have done an amazing job building The Honey Pot Co. into a leading feminine care brand that has distinctive category ownership and unique brand positioning,” said Elias Sabo, CEO of Compass Diversified, in the release. “This partnership is a testament to the importance of brands built on dedication to innovative products and fostering community. We are so excited to provide The Honey Pot Co. with the resources necessary to bring it closer to its goal of serving more people by being the number one ‘better-for-you’ personal care brand in the world.”
Since its inception, The Honey Pot Co. has fostered a high-touch community and cultivated an enthusiastic customer base that spans diverse cultures, ages and needs, the release said.
“The Honey Pot Co.’s disruptive stance is not just about selling products; it is a movement to empower consumers to embrace their bodies and overall well-being,” the release said. “The Honey Pot Co.’s innovative philosophy revolves around ‘normalizing the normal,’ breaking barriers in a traditionally stagnant consumer packaged goods category and redefining the narrative around personal care.”
As part of it’s mission, the company also donates to organizations that support wellness and education for people with vaginas. Every year since the company was started, it has donated 2% of sales to charitable organizations that provide access, connection, kindness and education to people with vaginas around the world, according to the company’s website.
In an Instagram post announcing the acquisition posted Tuesday, Dixon said she was “grateful and excited for the future.”
“My goal while building The Honey Pot Co has always been to amplify the voices of humans that are often overlooked and quieted; including but not limited to the broader inequities that Black Women founders experience from raising capital to scaling their businesses,” she said in the post. “That doesn’t stop now – our ability to serve more underserved humans has just been unlocked.”
The acquisition is expected to close in February after customary closing conditions.