Proctor & Gamble Beauty has acquired Mielle Organics from wife and husband founders Monique and Melvin Rodriguez who will stay on as CEO and COO. Terms of the sale were kept private.
Proctor & Gamble is traded on the New York Stock Exchange and last year brought in $81 billion in revenue. Over the past several years, P&G Beauty has been increasing its hair care offerings for people of color.
Founded in 2014, Mielle according to WWD signed a major investment deal with Berkshire Partners in 2021 after bringing in about $40 million in sales in 2020. While the amount of the investment wasn’t made public, Berkshire usually invests between $400 million and $1 billion per deal.
Mielle was in the news last week when white TikTok influencer Alix Earle recommended Mielle Organics’ Rosemary Mint Hair Oil. Multiple Black and brown content creators pushed back on her video, expressing concern the formula of the oil would be changed to accomodate straighter hair textures. Some also noted the spotlight on the product caused it to be sold out at multiple locations.
In an interview with WWD on the deal in which Monique Rodriguez assured the hair oil formula wouldn’t change, she added, “I really appreciate that new customers are coming into the Mielle ecosystem and discovering our amazing products, especially the oil, which is one of our top sellers. But this is another reason why this partnership with P&G is so important. This partnership allows us to create more access and availability so consumers don’t have to drive 30 miles to pick up their favorite product.”
