Black-owned healthcare brand The Honey Pot Company enters $380 million acquisition deal

BY Preta Peace Namasaba January 19, 2024 7:25 AM EDT
Beatrice Dixon. Photo credit: Beatrice Dixon

Beatrice Dixon’s The Honey Pot Company has entered into a $380 million partnership deal with Compass Diversified (CODI), one of the largest public investment companies in the United States. The acquisition is expected to close in February subject to customary conditions.

“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 de-stigmatizing feminine care through accessible products and promoting holistic wellness, both inside and out,” Dixon said of the partnership.

The American feminine care industry is a $54 billion market. The deal between The Honey Pot Company and CODI intends to reinforce the accessibility of natural solutions by promoting natural products and empowering women to make informed choices. With increased resources, The Honey Pot Company will be able to broaden its distribution channels and ensure that their products reach diverse and underserved communities.

The multi-million-dollar deal is a remarkable feat for a Black woman-owned and led consumer products goods company. It showcases the progress Black women entrepreneurs are making.

The Honey Pot Company will continue with its original 15-member leadership team post acquisition. Dixon will also stay on as CEO and innovative officer and ensure that the brand proceeds in the right direction. Existing owners will retain a minority stake in the business.

“We made this decision with the full intention to accelerate many of our visions for growth, including incredible innovation, providing even more education on personal wellness, and more distribution points in the US and building globally. The resources that a partnership of this nature provides are endless and we’re excited to provide our small yet mighty team a support infrastructure that empowers us to realize the mission we set out on,” Dixon on why the Honey Pot team has sold its majority stake.

She also took to X, formerly Twitter, to explain her commitment to amplifying the needs of Black women.

“My goal has always been to amplify the voices of humans that are often overlooked; including the inequities of Black Women founders when raising capital to scale their businesses. That doesn’t stop now – our ability to serve more underserved humans has just been unlocked,” she posted.

Dixon was inspired to create her own natural wash following her experience with bacterial vaginosis (BV) and frustrations by the limited vaginal health options available on the market. She founded The Honey Pot Company from her kitchen apartment in 2012 to bridge this gap. The company has grown from only offering pads and tampons to a wider product range that includes over-the-counter anti-itch solutions, intimate washes and wipes.

In 2017, Dixon landed a highly lucrative deal with Target to sell The Honey Pot in approximately 1,200 doors. The brand is now sold in 33,000 doors and is available at more major retailers including Walmart, CVS, and Walgreens. The company achieved over $120 million in annual sales in 2023.