Humble was acquired by Bayn Group for SEK 809 million.
The Humble Co., a Sundbyberg, Sweden-based FMCG company with focus on Health & Beauty and oral care products, announced that it was acquired by Bayn Group, a Swedish food-tech group, supplying healthy sugar reduction solutions for the food and beverage industry.
The deal was made for SEK 809M ($98M), half stock and half cash, for 100 percent of the shares in The Humble Co. (and its subsidiaries. As part of the dea, Noel Abdayem and Oskar Holmblad have also committed to continue to operate and develop The Humble Co. for at least five years after the completion of the Transaction.
The Humble Co., founded in 2014 by Noel Abdayem and led by CEO Simon Petrén, designs and markets eco-friendly personal hygiene products, such as eco-friendly toothbrushes. The company has several FMCG brands in oral and personal care, ECO & Sustainability and is sold and marketed in approximately 40,000 stores in 30 markets globally, expecting sales of SEK 170 million ($21M) in 2021.
Prior to the Transaction, The Humble Co. is owned by Noel Abdayem through companies (approx. 67 per cent), Verdane Capital (approx. 22.5 per cent) and a few minority owners. Verdane had invested in Humble in 2018.