TSG Consumer participates with DUDE Wipes to accelerate the growth of the disruptive hygiene company's upcoming phase
DUDE Wipes, a Chicago-based personal hygiene company, has secured a strategic growth investment from TSG Consumer Partners. This investment marks a significant step in the brand's expansion plans, aimed at increasing its presence in more households and disrupting the flushable wipes market further.
The partnership will see TSG Consumer supporting DUDE Wipes' growth strategy, which includes broadening household adoption, reaching new consumer segments, deepening manufacturing relationships and retail partnerships, scaling distribution and innovation, and maintaining the brand's authentic voice.
"We are thrilled to partner with TSG Consumer Partners as we embark on our next phase of growth," said Sean Riley, CEO of DUDE Wipes, who co-founded the company alongside Jeff Klimkowski (CFO) and Ryan Meegan (CMO). "TSG's industry expertise and connections will be invaluable as we look to expand our reach, strengthen our supply chain, and continue to innovate within the personal hygiene space."
TSG Consumer's investment will help DUDE Wipes target new consumer groups, leveraging TSG's expertise in the consumer sector to identify and tap into unexplored markets. The partnership also seeks to strengthen and expand manufacturing and retail partnerships, enhancing supply chain efficiency and distribution capabilities.
DUDE Wipes has emerged as a leading challenger in the flushable wipes segment, with retail sales nearly quadrupling since 2021, underscoring the brand's accelerating momentum. The brand's unique, irreverent identity has resonated with consumers, and the founders will retain significant ownership and continue to lead the company, ensuring this identity remains intact.
Lazard advised TSG Consumer in the transaction, while Harris Williams served as the lead financial advisor to DUDE Wipes. Ropes & Gray provided legal counsel to TSG Consumer, and Barnes & Thornburg provided legal counsel to DUDE Wipes.
Alec Fogarty, Principal at TSG, expressed excitement about supporting DUDE Wipes' next phase. "We are impressed by the brand's rapid growth and its potential to disrupt the flushable wipes market," he said. "We look forward to working closely with the DUDE Wipes team to capitalise on this opportunity and drive the brand's continued success."
Financial terms of the transaction between DUDE Wipes and TSG Consumer were not disclosed. Long-time backer and "Shark Tank" investor Mark Cuban will also remain invested in the company.
[1] https://www.tsgconsumer.com/press-releases/tsg-consumer-partners-invests-in-dude-wipes [2] https://www.businesswire.com/news/home/20230308005218/en/TSG-Consumer-Partners-Invests-in-Dude-Wipes [3] https://www.prnewswire.com/news-releases/tsg-consumer-partners-invests-in-dude-wipes-301764388.html [4] https://www.prnewswire.com/news-releases/tsg-consumer-partners-invests-in-dude-wipes-301764388.html
- The strategic growth investment from TSG Consumer Partners will aid DUDE Wipes in their plans to increase brand presence, deepen manufacturing relationships, reach new consumer segments, and continue innovating within the personal hygiene space.
- With TSG Consumer Partners' investment, DUDE Wipes aims to expand its reach, strengthen supply chain efficiency, and leverage TSG's industry expertise to tap into untapped markets, as they pursue their ambition to disrupt the flushable wipes market further.
- Finance professionals from Lazard and Harris Williams advised on the transaction, with Ropes & Gray and Barnes & Thornburg providing legal counsel to respective parties, as DUDE Wipes secured a significant investment to fuel its business growth and future development.
