Dive Brief:
- In hopes of expanding access to its product line, textured haircare brand Mielle Organics is being acquired by Procter & Gamble pending regulatory approval, per a company press release Wednesday. Mielle said in an Instagram post that it has no plans to change the formulas, and the brand will operate as an independent subsidiary of P&G Beauty.
- Mielle will continue to be run by CEO Monique Rodriguez and COO Melvin Rodriguez, a husband-and-wife team who founded the brand in 2014 to develop beauty products “rooted in natural ingredients” designed for Black women, per the release.
- As part of the deal, P&G and Mielle have both committed $10 million to the non-profit Mielle Cares, which is focused on “providing resources and support to advance education and economic opportunities in Black and Brown communities.”
Dive Insight:
With Mielle joining P&G, both companies hope to increase access to hair products and services for Black women globally.
“From the moment we stepped into P&G, we saw a diverse team of leaders who share our values and vision for innovation, education and community empowerment, including several Black leaders who play a key role in the hair care and beauty businesses,” said Monique Rodriguez. “This partnership gives Mielle an opportunity to serve more textured hair consumers with the great products and formulas that our community loves.”
In addition to the brand’s website, Mielle products are already sold through retailers such as Ulta Beauty, Sally Beauty, Target, CVS, Rite Aid, Walgreens and Walmart.
During the last three years, Mielle received funding from the New Voices Fund for Women of Color and a nine-figure investment from Berkshire Partners, per the release.
P&G is no stranger to acquiring beauty brands. In 2022, the corporation spent $1.4 billion in cash on acquisitions, primarily related to the purchase of skincare brands Farmacy Beauty and Tula, as well as haircare company Ouai. The company also announced plans to acquire the shaving brand Billie in 2020, which was called off after the FTC filed to block the deal.
