The Snippet:
Consumer staples giant Procter & Gamble has bought Native Deodorant for a cool $100 million in cash. P&G already owns Secret, and is presumed to have purchased Native to address a growing demand from ingredient-conscious consumers.
The Story:
Native Deodorant is an online distributor of deodorants that uses a DTC (direct-to-consumers) sales model, and also addresses the needs of a consumer base that’s increasingly worried about deodorant ingredients causing cancer and other conditions.
Native’s blend of unique fragrances, such as honeycrisp apple and cinnamon, have already made it popular with over 100 million customers in a short span of two and a half years.
For P&G, it represents an opportunity for organic sales growth, something the company has been struggling with even after divesting a whole range of low-margin brands. And it helps that Native has positioned itself slightly above the cut, at $12 a stick.
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