Compass Diversified, an owner of leading middle market businesses, has announced that it has entered into a definitive agreement to partner with The Honey Pot Company, a leading ‘better-for-you’ feminine care brand, for an enterprise value of $380 million (excluding working capital and certain other adjustments upon closing). The Honey Pot Co will continue to be led by its current leadership team, and existing owners and management will retain a significant minority stake in the company.

Based in Atlanta, Georgia, the idea for The Honey Pot Co’s feminine wash began in an apartment kitchen in 2012, fueled by co-founder Beatrice Dixon’s personal experiences and ultimate desire to change how the world uses and perceives feminine care products. Today, The Honey Pot Co provides a complete feminine care system – powered by plant-derived ingredients and clinically tested formulas – with a diverse set of products across the feminine hygiene, menstrual, consumer health and sexual wellness categories.

The Honey Pot Co’s unique formulations containing plant-derived ingredients, coupled with its dedication to fostering a high-touch community, have cultivated an enthusiastic customer base that spans diverse cultures, ages and needs. 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 Honey Pot Co.'s innovative philosophy revolves around ‘normalising the normal’, breaking barriers in a traditionally stagnant consumer packaged goods category and redefining the narrative around personal care.

“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 destigmatising feminine care through accessible products and promoting holistic wellness, both inside and out,” said The Honey Pot Co’s co-founder, Beatrice Dixon, who will continue to lead the company in her current role as CEO and chief innovation officer. “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.”

“I continue to be humbled by the journey of The Honey Pot Co, and I hope that both the creation of this business and where it stands today serve as a reminder that while doors are often closed, there is always space for passionate and visionary entrepreneurs. That space doesn’t have to be explored alone, either. Partnerships and investments, both big and small, enable the opportunity for your business to blossom and reach its full potential. We want to thank our prior investment partners, New Voices Fund and VMG Partners, for allowing us to do just that and for their tremendous trust and support as we have expanded our business to reach more humans in the past five years,” Dixon added.

“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. They have a strong leadership team, an efficacious line of products, and a track record of impressive innovation and category disruption. We believe they have tremendous growth opportunities on the horizon. 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,” CEO of Compass Diversified, Elias Sabo, said.

The acquisition is expected to close in February, subject to customary closing conditions. Perella Weinberg Partners served as exclusive financial advisor and Winston & Strawn LLP acted as legal counsel to The Honey Pot Co, while Gibson, Dunn & Crutcher LLP represented The Honey Pot Co’s management. William Blair & Company acted as exclusive financial advisor and Ropes & Gray LLP acted as legal counsel to Compass Diversified.