WM Partners, a private equity firm based in the health and wellness category, has made its first foray into the personal care category with an investment in Raw Sugar.
WHO: Based in Sarasota, Florida, Raw Sugar was founded in 2014 by life partners Ronnie Shugar and Donda Mullis. Raw Sugar produces premium-quality and earth-friendly personal care products, which are formulated using plant-derived and cold-pressed ingredients. With a core value of being “raw, real, good, and clean,” the company offers an assortment of "better-for-you" personal care products, including soap, body wash, haircare, scrubs, lotions, lip care, a men's and kid's line, and most recently a deodorant line with biodegradable recyclable packaging. Through the company's give-back program, the Raw Sugar Initiative, the company has donated millions of bars of soap and clean essentials to those in need.
WM Partners is a certified diverse-owned private equity firm focused on investing in middle-market companies and driving value creation in the health and wellness sector.
WHY: With the investment in Raw Sugar, WM Partners will be starting its portfolio of brands in the natural personal care category.
IN THEIR OWN WORDS: "We are thrilled to partner with the Raw Sugar team. They have built a strong, mission-driven brand, and we look forward to supporting their rapid growth in the natural personal care sector," said Jose Minski, co-founder of WM Partners. "We believe Raw Sugar is very well positioned to capitalize on the long-term growth of the natural personal care industry and on the increasing consumer demands for natural health and wellness brands."
"We created the Raw Sugar brand to not only make clean healthy living more accessible to everybody, but to also inspire people to love the skin they're in," said Mullis, Raw Sugar's co-founder and Chief Marketing Officer.
Co-founder and Chief Executive Officer Shugar added, "I believe that our partnership with WM Partners will provide us the resources and operational expertise to help continue our growth and innovation, build awareness for the Raw Sugar brand, and support our consumers, retailers and supplier partners—all while staying true to our Raw Sugar mission."
- WM Partners invested in Raw Sugar. The terms of the transaction were not disclosed.
- The company said it is in the top three selling brands at Target in the personal care category and has experienced double-digit growth every year since its founding.
- The brand has focused on brick-and-mortar retail and is sold in Target, Walgreens, Kroger and other regional retailers like H-E-B in Texas, Meijer in Michigan, and Wegmans in New York.
- King & Spalding served as legal advisor to WM Partners. Intrepid Investment Bankers and Buchalter served as advisors to Raw Sugar.
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