P&G Acquires Native Natural Deodorant Brand

(RTTNews) - Procter & Gamble has acquired Native deodorants, a fast-growing direct-to-consumer natural deodorant brand. The consideration for the venture-backed deodorant startup reportedly is $100 million cash.

The acquisition is expected to help P&G broaden its portfolio to reach consumers who are looking for products free of certain ingredients or full of natural ones, amid concerns that traditional deodorants may cause cancer. The company already owns popular deodorant brand Secret.

According to the consumer products giant, Native would appeal to consumers buying natural personal care items online and not in stores.

San Francisco-based Native, an online distributor of deodorant, reportedly has more than a million customers since launching 2.5 years ago. The company recently received $500 thousand from Azure Capital Partners.

Native's deodorants are more expensive than average deodorant at $12 per stick. It comes in various scents including pumpkin spice latte or honeycrisp apple and cinnamon.

According to its website, Native produces paraben-free and aluminum-free deodorant that isn't a a science experiment.

Native founder and CEO Moiz Ali will continue to lead the brand from its San Francisco operation. In a statement, Ali said, "I've long admired P&G's commitment to product innovation and obsession with customer happiness, and I'm excited to leverage their expertise as we continue to grow Native."

P&G's latest acquisition comes amid a bitter proxy battle with activist investor Nelson Peltz. Initially, P&G declared victory, saying Peltz didn't win a seat on the company's board. But, on Wednesday, preliminary results after a recount show that shareholders elected him to the Board.