Bain Buys Majority Stake in Soap Maker

Private equity firm Bain Capital has acquired a majority stake in Hand in Hand, which is billed as a “purpose-driven” personal care brand. Terms of the deal were not announced. Bain purchased Hand in Hand through its Bain Capital Double Impact division, which is designed to build companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact partners with companies across three themes – health & wellness, education & workforce development, and sustainability to create long-term value and meaningful social impact at scale, according to the company.  

Founded in 2011 by husband-and-wife team Bill Glaab and Courtney Apple, Hand in Hand features a Give Back program that aims to save lives through access to good hygiene and clean water. For every product purchased, Hand in Hand donates a bar of soap and clean water to a child in need. During the past 10 years, the company has donated more than 13 million bars of soap and provided thousands with access to clean water. Hand in Hand also takes a leading position on sustainability that includes a unique, industry-leading, and portfolio-wide commitment to making only palm oil free products, and to educating consumers on the devastating environmental impacts and human rights abuses in the palm oil industry.

“Courtney and I started this business with a heartfelt desire to make the world a cleaner, better place with our products and our philanthropic business model,” said Hand in Hand CEO Glaab. “Hand in Hand resonates with consumers because we continue to push the boundaries with environmentally friendly, vegan, cruelty-free, and palm oil free products that work well and make the world a little better in the process. We're thrilled to partner with Bain Capital Double Impact who supports our mission and our dedication to our global stakeholders and to continuing to have a profound impact through our business model.”

Hand in Hand products include bar soap, liquid hand soap, hand sanitizer, body wash, sugar scrubs and lotions. The company uses aluminum packaging for its liquid hand soap products, with plans to expand this highly sustainable approach into other categories. Hand in Hand products are sold through select retailers, including Whole Foods Market, Wegmans, Walmart, Target, Fresh Thyme, CVS and the company's website.

“Hand in Hand is an authentic, founder-driven brand with a commitment to industry leadership, innovation in sustainability, and the potential to disrupt the personal care industry. As evidenced by the incredible affinity from consumers and the strong support of retailers, the company's success affirms that prioritizing mission-driven principles and sustainability can drive accelerated growth,” said Cecilia Chao, a managing director at Bain Capital Double Impact. “This investment represents an opportunity to build awareness and expand channel distribution and product categories as we seek to improve access to better for you, sustainable, and affordable personal care products that drive real impact.”