By Abigail Summerville
-Premium baby diaper brand Coterie, which counts models and entrepreneurs Karlie Kloss and Ashley Graham as investors, is in talks to sell itself to consumer goods company Mammoth Brands, according to people familiar with the matter.
Privately held Mammoth owns men’s razor company Harry’s and women’s body care brand Flamingo. Coterie sells high-end disposable diapers popular with celebrities that are said to perform better than household brands but can cost more than twice the price.
Coterie has been working with investment bank Raymond James on a sale process, according to the people, who asked not to be named because the discussions are private.
The company, which is profitable, generates more than $200 million of annual revenue and close to $50 million of annual earnings before interest, taxes, depreciation and amortization (EBITDA), sources said. It could fetch a roughly $650 million valuation based on where other paper products companies trade, they said.
The discussions are still ongoing and a deal isn’t guaranteed, they said.
Mammoth declined to comment. Coterie and Raymond James did not immediately respond to requests for comment.
In recent years, disruptor baby care brands like Coterie, Hello Bello and The Honest Company have sought to challenge legacy players like Procter & Gamble-owned Pampers and Kimberly-Clark-owned Huggies. Actors Kristen Bell and Dax Shepard founded Hello Bello while The Honest Company counts actor Jessica Alba as a founder.
Launched in 2019 by Frank Yu, Coterie is known for its high-quality, hypoallergenic and cruelty-free diapers, which are primarily sold online. The New York, New York-based company also sells wipes and other baby products.
Mammoth generated $835 million in revenue and nearly $100 million in adjusted EBITDA in 2024, the company said in April. It’s led by Jeff Raider and Andy Katz-Mayfield, who co-founded Harry’s in 2013.
In 2020, U.S. antitrust regulators thwarted an attempt by Edgewell Personal Care to acquire Harry’s for $1.37 billion. In 2024, Reuters reported that Harry’s had confidentially filed for an initial public offering. Since then, the company rebranded to Mammoth to highlight its expansion beyond shaving products and aspirations to become a consumer packaged goods leader.
(Reporting by Abigail Summerville in New York; editing by Dawn Kopecki and Cynthia Osterman)
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