Foundry, a brand platform specializing in acquiring, nurturing, and growing online brands, has acquired Blu Atlas for an undisclosed eight-figure sum, marking its third acquisition in the space.
WHO: Founded by Deep Patel, Blu Atlas, launched in January 2022, is a direct-to-consumer men's skincare, personal care, and fragrance brand with a nature-based ethos.
Dallas-based Foundry launched in 2021 as a brand acquisition platform setting a new standard for e-commerce performance and brand excellence. The team acquires majority stakes in direct-to-consumer brands with revenues between $1 million and $50 million with the intention of helping them accelerate growth. The team says it acquires exceptional, disruptive businesses nurturing them into enduring brands and scaling them profitably. Their portfolio includes men's brands Supply and Stryx as well as home fragrance brand Craft & Kin.
WHY: The platform was launched to amass a portfolio of 30 to 50 brands.
IN THEIR OWN WORDS: Expressing his excitement about the acquisition, Matt Rhodes, co-founder and CFO of Foundry, noted, “Blu Atlas has successfully cracked the code by offering high-quality products crafted from natural ingredients, accompanied by great fragrances and appealing packaging. This acquisition perfectly aligns with our mission of enriching people’s lives.”
Hendre Ackermann, CEO of Foundry, added, “We are thrilled for the opportunity to take Blu Atlas to its next stage of growth. We believe Blu Atlas has the potential to reach $100 million in sales over the coming years, by increasing distribution, building greater awareness, and continuing to offer a premium and differentiated product assortment.”
Reflecting on the acquisition, Deep Patel, founder of Blu Atlas, shared, “I was driven to start Blu Atlas when I couldn’t find clean and effective men’s skincare that worked. So, I worked with a team to create a line of powerful and effective products that people quickly fell in love with. Blu Atlas grew faster than I could have ever dreamed of. I feel extremely proud of what we've been able to accomplish. Now, with Foundry taking the reins, I’m excited to witness the next chapter unfold. The Foundry team has been a pleasure to work with, and I know that they will continue to elevate the brand and make a positive impact on the lives of men globally.”
DETAILS:
