San Francisco-based green cleaning pioneer Method has been sold to Belgian competitor Ecover in a deal that was brokered over the last few months, the company announced on Tuesday.
The move shakes up the market by creating the world’s largest green home cleaning company, with combined sales exceeding $200 million.
Method co-founder Adam Lowry says that the acquisition will function like a partnership between the two. Each brand will retain its own separate identity as well as research and development teams. The deal “feels more like a merger to me,” he told GreenBiz.
“The partnership gives us greater scale and resources and a global platform for our supply chain and research and development,” said Lowry, who started the company 12 years ago in his San Francisco apartment with friend Eric Ryan while working as a climate scientist.
“Initially, Method was not necessarily looking for a transaction per se, but in the course of getting to know the team at Ecover we saw the potential to accelerate the growth globally,” he said.
Key to that growth is that Method and Ecover will now have access — and be able to take advantage of — new geographic markets, the potential to manufacture products closer to where they’ll be sold, and access to knowledge such as Method’s developments in green solvents and Ecover’s biosynthetic surfactants.
“By coming together, our two brands will only serve to strengthen each other by providing complementary capabilities, an unrivaled opportunity for category-changing product development, and a united effort in building on our combined vision,” Ecover CEO Philip Malmberg said.
Leveraging each other’s strengths will also support the elevation of the green cleaning industry as a whole, Malmberg said.
Photo of (L-R) Ecover CEO Philip Malmberg, Method co-founder Adam Lowry (center), Method CEO Drew Fraser (R) and Method co-founder Eric Ryan (front) courtesy of Method.
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