Let's Talk Business: The Honey Pot's Big Move
- Natural feminine care brand The Honey Pot is gearing up for a major transformation, with plans to be acquired by Compass Diversified for a whopping $380 million. But don't worry, loyal fans, your favorite co-founder and CEO, Beatrice Dixon, will still be at the helm.
- The deal, scheduled to close in February, is subject to the usual closing conditions. Existing owners and management will hold onto a significant chunk of the company, according to a press release.
The Inside Scoop:
Honey Pot Company to face acquisition
Launched by Dixon in 2012, The Honey Pot has gained a reputation for its natural feminine care products made with plant-based ingredients. The brand closed fiscal 2023 with estimated gross sales of around $121 million and reported an impressive 54% compound annual growth rate since 2020.
With the acquisition by Compass Diversified, The Honey Pot is planning to drop some exciting new products this year. Dixon shares her excitement, saying, "We're stoked to team up with CODI, a firm that lines up perfectly with our values and is all about advocating for our vision of de-stigmatizing feminine care through accessible products and holistic wellness."
The brand has a 10-year innovation plan, according to Laura Tedesco, The Honey Pot's chief strategy and marketing officer. In 2024, they're diving headfirst into the body care category with a pH-balanced, herbal-infused body cleanser. Tedesco hopes this launch will attract even more customers to the brand, as their household penetration currently hovers around 4.5%.
You can grab The Honey Pot's products on their website or in over 33,000 retail stores across the nation, including Target, Walmart, CVS, Walgreens, and Kroger.
Looking Ahead:
The Honey Pot's future looks promising, with a focus on functional, innovative solutions. While specifics about their 10-year innovation plan aren't publicly disclosed, we can expect to see team growth, leadership development, and expansion of their consumer base. Menopause care is also highlighted as a key growth area, with functional solutions for this underserved life stage on the horizon.
Stay tuned for more updates as The Honey Pot continues to innovate and break barriers in the feminine care industry.
- In the acquisition by Compass Diversified, The Honey Pot's 10-year innovation plan includes a focus on functional, innovative solutions.
- The Honey Pot, with Beatrice Dixon still as CEO, is estimated to have closed fiscal 2023 with gross sales of around $121 million and a compound annual growth rate of 54% since 2020.
- Exciting new products, such as a pH-balanced, herbal-infused body cleanser, are planned for launch in 2024 by The Honey Pot, according to Laura Tedesco, The Honey Pot's chief strategy and marketing officer.
- The Honey Pot's products are available on their website and in over 33,000 retail stores across the nation, including Target, Walmart, CVS, Walgreens, and Kroger.
- With the acquisition, The Honey Pot is aiming to de-stigmatize feminine care through holistic wellness and has menopause care highlighted as a key growth area, with functional solutions for this underserved life stage on the horizon.
