The Honey Pot, a feminine care company, is kicking off 2024 with a huge announcement – a $380 million acquisition by Compass Diversified, an investment and holding company.
The Atlanta-based brand, which sells plant-based menstrual care and personal hygiene products, was founded in 2012 and has built up a noteworthy reputation for its inclusive, eco-friendly approach to women’s health and wellbeing.
“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 Dixon, co-founder of The Honey Pot, said in a statement Tuesday
Dixon will retain her current role of CEO and chief innovation officer alongside the company’s original 15-person leadership team and current owners, who will keep a minority stake. The acquisition is scheduled to close in February.
She first launched the company out of her kitchen eight years ago after a year-long struggle with bacterial vaginosis. As legend has it, she had begun experimenting with herbal remedies at home when her late grandmother came to her in a dream one night. In an August interview with Glamour, she described the dream, saying her grandmother gave her the recipe for what would become her first product.
“I went to work at Whole Foods, and I made myself a wash, and it worked,” she said. “So that was really the impetus at the start of our brand, and we just hit the ground running.”
Her products gained popularity for their all-natural ingredients, and in 2017 she landed a deal with Target. The company also secured support from the $100 million New Voices Fund, launched by Essence Ventures CEO Richelieu Dennis in 2020 with the goal of supporting businesses owned by women of color.
“Partnerships and investments, both big and small, enable the opportunity for your business to blossom and reach its full potential,” Dixon said, adding that Compass Diversified is “dedicated to championing our vision of destigmatizing feminine care.”
It’s no secret that Black women entrepreneurs face a unique set of barriers preventing them from receiving equal opportunities for funding, mentorship and publicity. According to data from Crunchbase, Black women business owners receive less than 0.35 percent of all venture capital funding.
The Honey Pot’s partnership with Compass Diversified is expected to bring “tremendous” opportunities for growth, the holding company’s CEO, Elias Sabo, said in a statement.
“Beatrice and her team have done an amazing job building The Honey Pot,” he said. “This partnership is a testament to the importance of brands built on dedication to innovative products and fostering community.”