THE WHAT? Colgate-Palmolive has announced that it has agreed to acquire premium oral care brand Hello Products.
THE DETAILS Terms of the deal were not disclosed, with Colgate-Palmolive simply revealing that it would finance the transaction with a combination of cash and debt.
The deal is expected to complete next month and Hello will continue to be led by Founder Craig Dubitsky and Lauri Kien Kotcher, CEO.
“Colgate is the ideal partner for Hello with a like-minded commitment to the best consumer oral health, the environment and our communities.” Kotcher commented. “Seeing how they have helped other companies grow and thrive in their portfolio, we are even more excited to join forces.”
THE WHY? Hello’s premium and on-trend positioning has proven popular in the US, particularly among younger consumers. Its natural slant will complement Colgate’s Tom’s of Maine brand to boot.
To read more about the premiumisation trend, check out our opinion piece here.