The Honey Pot Company, a revolutionary line of personal care and sexual wellness products founded by Bea Dixon, has inked a groundbreaking $380 million partnership deal with Compass Diversified (CODI).
The historic deal, set to close in February 2024, marks a significant step toward democratizing feminine care and challenges industry norms, according to people with inside information about the deal.
According to Essence, Bea Dixon, the CEO and Chief Innovation Officer of The Honey Pot Co., expressed excitement about the partnership with CODI when she spoke about their shared values and dedication to destigmatizing feminine care.
The deal ensures that The Honey Pot Co. will continue producing plant-derived products that promote holistic wellness, with the original leadership team and owners retaining a significant minority stake in the company.
The partnership was led by Richelieu Dennis’s $100 million New Voices Fund, which played a pivotal role in shaping the deal.
The New Voices Fund focuses on equity investments to empower women of color entrepreneurs, addressing key issues of access, capital, and expertise.
Per the report by Essence, Bea Dixon sees this partnership as a catalyst for growth, allowing The Honey Pot Co. to disrupt categories, serve more customers, and contribute to future innovations. The collaboration with Compass Diversified aims to support the brand’s mission of normalizing feminine care and providing accessible products.
Dixon has also reflected on the journey of The Honey Pot Company, which began over a decade ago in her kitchen apartment.
The inspiration to found The Honey Pot Co. came from Dixon’s personal experience with bacterial vaginosis, leading her to create a natural wash.
The brand’s commitment to addressing real experiences with vaginas, often overlooked in the industry, has been a driving force.
The Honey Pot Co. is not just a business; it’s a movement rooted in community and self-care. Dixon hopes that the partnership will accelerate growth, fuel innovation, and expand distribution points, allowing the brand to reach a global audience.
The deal is not only a testament to The Honey Pot Company’s success but also a significant stride toward breaking barriers for Black women-owned businesses in the consumer products goods (CPG) sector.
Dixon’s perseverance and commitment to quality products have paved the way for transformative change, inspiring future entrepreneurs to pursue their visions seriously.
