The Honey Pot Company has once again entered the history books–and this time, the brand can change the feminine care industry.
According to Essence, the brand is a line of sexual wellness and personal care products entrepreneur Bea Dixon founded.
And the brand has landed a major $380 million deal that will help democratize feminine hygiene.
Bea Dixon Was Proud of Honey Pot Company’s Lucrative Partnership
Bea Dixon’s brand made the lucrative deal with Compass Diversified, one of the country’s biggest publicly traded holding companies–an impressive achievement for a Black woman-owned company.
Naturally, Bea was ecstatic to put pen to paper.
“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 de-stigmatizing feminine care through accessible products and 33 promoting holistic wellness, both inside and out.”
The Honey Pot Company will keep making plant-based products and will maintain hold of its original 15-member leadership team.
“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.”
Though the deal has just been finalized, it was announced at Essence’s 2018 Festival of Culture as part of the New Voices Fund.
Richelieu Dennis’s $100 million New Voices Fund has funded Black women-owned companies and shows no sign of stopping.
“The facts about investments in women of color entrepreneurs, particularly Black women, are astonishing.”Richelieu Dennis
“Entrepreneurship among women of color has increased 322%, but only 0.2% of those women receive access to the funding needed to sustain and grow their businesses. Black women raised just 0.0006% of the total $424.7 billion in tech venture funding since 2009. This is unacceptable. It is why the Fund is focused on making equity investments and creating an ecosystem that empowers women of color entrepreneurs to reach their full potential by addressing three of the most pertinent issues preventing their long-term success – access, capital, expertise.”
The deal will close in February and will help to democratize Honey Pot Company’s approach to ‘normalize the normal.’
“This deal was always seen as a catalyst for our continued growth — our growth has always been rooted in serving more humans and the opportunity to be disruptive in the categories we own and future categories… In 2017, The Honey Pot had just been approached with the opportunity of a lifetime — to enter into 1100 doors at Target with our Normal and Sensitive washes and wipes. What we didn’t know is how hard it would be to accomplish both staying on the shelf and marketing our products at scale. Another fateful moment hit when we got the chance to meet Rich and it forever changed the trajectory of our company. If it had not been for the New Voices Fund investment, we wouldn’t have had the capital, access, or ability to grow our business with the very vision we held from the beginning. I think now more than ever NVF’s mission is massively important to the black community. The Honey Pot’s partnership with NVF created a pathway to our new endeavor with Compass Diversified. We are eternally grateful to Richelieu Dennis and the NVF family for their commitment to Black women in business.”
Bea was also proud of the deal because it would accelerate her plans for the Honey Pot.
“We made this decision with the full intention to accelerate many of our visions for growth, including incredible innovation, providing even more education on personal wellness, and more distribution points in the US and building globally. The resources that a partnership of this nature provides are endless and we’re excited to provide our small yet mighty team a support infrastructure that empowers us to realize the mission we set out on.”
Bea’s journey to creating Honey Pot started over a decade ago when she create her natural wash after experiencing bacterial vaginosis (BV).
The options on the market frustrated her, despite BV occurring in nearly 35% of all women.
“My bout with bacterial vaginosis opened up the reality that the experiences humans have with vaginas are not only real but continuously overlooked… I just knew there was a need and that knowledge was my constant — which no doubt would have been harder to achieve without community. By understanding and using The Honey Pot, I was given the confidence to keep trying and to keep disrupting. Our community became the humans I talk to and think about most often.”
Dixon asserted that her mission is to get more quality products into more hands.