Oars + Alps, a Chicago startup that makes skincare products for men, has been acquired by S.C. Johnson, Chicago Inno has learned.
The startup was acquired for around $20 million, multiple sources said. S.C. Johnson, based in Racine, WI., was founded more than 130 years ago and owns brands like Ziploc, Windex and Raid.
Oars + Alps declined to comment on the deal, and an email to S.C. Johnson seeking comment was not returned.
Launched in 2016 by Mia Saini Duchnowski and Laura Lisowski Cox, who were both frustrated by the lack of healthy products available for their husbands, Oars + Alps makes men's skincare products made with natural and toxin-free ingredients. It sells deodorant, moisturizer, body wash and other products.
Oars + Alps raised $1.3 million in outside funding. Its investors include Chicago-based firms Breakout Capital and Levy Family Partners. The startup, which has eight employees, has offices in Chicago and New York.
Oars + Alps was part of the 2018 Target Takeoff Accelerator Program in Minneapolis, and it currently sells its products at more than 500 Target stores.
In recent years, there's been several high-profile acquisitions in the beauty and grooming space. Unilever bought Dollar Shave Club for around $1 billion and Seventh Generation for around $600 million. Shaving startup Harry's was bought by the owner of Schick for $1.37 billion. And Proctor & Gamble acquired Walker & Company---maker of Bevel shaving and haircare products for people of color---for a reported $20-$40 million.
