Multiple sources have reported that SC Johnson has acquired Oars + Alps for around $20 million, but neither company commented on the transaction.
WHO: Founders Mia Saini Duchnowski and Laura Lisowski Cox launched Oars + Alps in October 2016. The company was born out of the frustration of two wives whose husbands were stealing their skincare products because healthy and effective skincare for men wasn’t available. The brands launched with a DTC model and expanded into 500+ Target stores and Amazon.
Based in the USA, SC Johnson is one of the world’s leading manufacturers of household cleaning products and products for home storage, air care, pest control and shoe care, as well as professional products. The 133-year-old company, which generates $10 billion in sales, employs approximately 13,000 people globally and sells products in virtually every country around the world.
- Chicago Inno reported that multiple sources said Oars + Alps was acquired for around $20 million.
- Oars + Alps raised $1.3 million in outside funding from Chicago-based firms Breakout Capital and Levy Family Partners.
- According to WWD, in 2015 the founders founded the business using $50,000 of their personal savings along with money they got from winning the regional 2016 Harvard Business School New Venture Challenge.
- Oars + Alps was part of the 2018 Target Takeoff Accelerator Program and it currently sells its products at more than 500 Target stores.
Photo: via Oars + Alps