Procter & Gamble has acquired Chicago-based on-demand dry cleaning service Pressbox. Terms of the deal were not disclosed.
A press release from Tide Spin described the move as bringing Pressbox into P&G's "family of laundry services which includes Tide Spin, Tide Dry Cleaners, and Tide University Laundry."
It added that in the immediate future, Tide Spin services would not change, and that updates to each program would be announced as offerings integrate.
“We think it’s a big win for Chicago,” said Pressbox CEO Vijen Patel in a Chicago Tribune report on the acquisition. “Our startup scene is fascinating and great.”
Tide Spin representatives couldn't immediately be reached for comment.
This marks the third acquisition of 2018 for consumer goods giant P&G, which bought New Zealand-based skincare line Snowberry in February and Germany-based Merck KGaA — Consumer Health for $4.2 billion in April.
Pressbox was founded in 2013 by Notre Dame grads Patel and Drew McKenna. Since then, its 250 locker locations, in which users can drop off their dry cleaning 24/7 and use an app to track its progress, have expanded outside the Windy City to Washington, D.C., Philadelphia and Nashville, with a Dallas market set to launch this month.
