Procter & Gamble, the US-based consumer goods giant, has acquired the direct-to-consumer personal care firm Native Deodorant, according to a report in the Cincinnati Business Courier.
Financial terms were not disclosed, but the deal is reported to have been completed for around $100 million in cash.
Native is promoted as “deodorant that isn’t a chemistry experiment”, and in particular is claimed to be free from aluminium and parabens, instead being made from “ingredients you understand”. The firm has product ranges targeted at both women and men, with a 75g stick currently retailing at $12.
Commenting on the move, Bill Brance, Procter & Gamble vice president of North American Personal Care, said: “Native is a great strategic match for P&G, building on our leadership in the deodorants category and broadening our portfolio to reach consumers who have preferences to avoid certain ingredients such as parabens and aluminum”.
Procter & Gamble is the latest personal care giant to invest in the direct-to-consumer space. In 2016, rival Unilever invested $1 billion to acquire Dollar Shave Club, a manufacturer of male grooming products sold through a subscription model.
Source: Cincinnati Business Courier / Native Deodorant