The Honey Pot Company is making history again — and this time, it’s set to change the entire feminine care industry as we know it. The brand, a line of personal care and sexual wellness products founded by Bea Dixon, just inked a landmark deal that is poised to democratize feminine care, taking a piece of the projected $54B pie.
Entering into a $380 million partnership deal with Compass Diversified, one of the nation’s largest publicly traded holding companies, is no easy feat for a Black woman-owned and led consumer products goods (CPG) company. But if there’s one thing Bea Dixon will do, is make it look easy. “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,” said The Honey Pot Co.’s Co-Founder, Beatrice Dixon, who will continue to lead as CEO and Chief Innovation Officer.
The Honey Pot Co. will continue to make plant-derived products that are actually good for your body, and be ushered into the future with its original 15 member leadership team, and existing owners. They will also retain a significant minority stake in the company. “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.”
Richelieu Dennis’s $100 million New Voices Fund played a pivotal role in leading the acquisition following its initial investment in the brand, which was announced in 2018 at the ESSENCE Festival of Culture. “The facts about investments in women of color entrepreneurs, particularly Black women, are astonishing,” Dennis previously stated in a press release at the time of the Fund’s official launch.
“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 acquisition is expected to close in February, and aims to help democratize the brand’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,” Dixon tells ESSENCE. “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 totally 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.”
She continues: “I always say the journey of entrepreneurship is akin to major life milestones like a birth. You go through the birthing, the toddler phases and ultimately watch that human move on to college, adulthood and so forth. The reason that analogy is so important is because each of those phases presents so much beauty, curiosity and adversity; as the size of your idea begins to expand well beyond what you could have ever predicted. All that to say, it has been such a unique honor; how lucky I’ve been to have the moment to show, share and scale something as small as an idea. I am beyond proud and I am eager to be a part of and witness all that’s to come.”
The journey began a little over a decade ago in Dixon’s kitchen apartment when, after experiencing bacterial vaginosis (BV), she decided to create her natural wash. Like many people with challenges addressing their vaginal health, Dixon grew frustrated with the lack of options available on the market. Ironic since BV is the most common vaginal problem for women and people with vaginas. Nearly 35% of them will experience BV in their lifetimes and that likelihood increases significantly if you’re Black. Dixon understood this and set out to create a solution.
“My personal bout with bacterial vaginosis opened up the reality that the experiences humans have with vaginas are not only real, but continuously overlooked,” Dixon shares with ESSENCE. “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 says her mission is to ensure quality products get on more shelves and in more hands. But more than anything, her story inspires future change-makers to keep persevering.
“I hope that beyond the headlines and quotes, the knowledge prevails — no matter where you are and what you do, who you have been and who you think you have to be, you can always begin somewhere,” she shares emphatically. “That feeling you get that makes you want to share, to build, to feel compelled to create, follow that. The feeling that makes you want to go, and whatever it may take to help you touch that — no matter how frivolous, how big, how bold, or silly it may seem: now, more than ever, you need to take that seriously.”