07.14.23
Foundry, a brand platform specializing in acquiring, nurturing and growing online brands, has acquired Blu Atlas—a direct-to-consumer (D2C) men's skincare, haircare and fragrance brand—for an undisclosed eight-figure sum. This marks Foundry’s third acquisition into the men's personal care industry.
According to Technavio, the personal care market size is estimated to grow by $169.7 billion from 2022 to 2027 at a CAGR of 6.4%.
Since its launch in January 2022, Blu Atlas has experienced strong growth and has received positive reviews from numerous national publications. Blu Atlas been described as “The Best Men’s Skincare Brand” by Men’s Journal, “The King of Grooming Products” by Rolling Stone, and the “clear winner” vs. Estée Lauder’s Le Labo and L'Oréal’s Kiehl’s by WWD and US Weekly.
Foundry, which already boasts a portfolio of disruptive brands, including Supply, a men’s premium razor brand, Stryx, a men’s cosmetics brand, and Craft & Kin, a home fragrance brand, is proud to welcome Blu Atlas into the Foundry family of millions of loyal customers.
Matt Rhodes, co-founder and CFO of Foundry, said, “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.”
Foundry says its integration team works closely with founders to ensure a smooth transition that respects the brand’s origins and values.
Reflecting on the acquisition, Deep Patel, founder of Blu Atlas, shared, “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.”