Cult start-up beauty brand Drunk Elephant is apparently open to the idea of a possible buy-out bid, however, no deal is close to being finalized, according to a report by Bloomberg.
The company is said to have already instructed bankers to assist in any potential acquisition, with Founder and Chief Creative Officer Tiffany Masterson downplaying previous reports of interest from multinational Unilever.
Speaking at the launch of a New York pop-up, Masterson said, “If there are companies that want to buy Drunk Elephant, we’re open to discussion. We’re just looking at what this looks like, seeing what this might look like.”
With start-up acquisitions continuing to be a strong trend in the industry, Drunk Elephant could have many possible suitors.
Masterson continued, “For me, selling the brand one day, it would have to be to a very special partner who lets me be myself and lets me have autonomy. Who knows if that’s out there. I hope it is. I hope we’ll find out soon.”