The company's latest acquisitions bring it to 11 companies to date, representing more than $100 million in annual revenue.
These companies include Primal Life Organics, Club EarlyBird, Capsule Supplies, Barnesmith, Power Theory, Wolf Tactical, and more.
The acquisition is in line with Society Brands' strategy to acquire companies that primarily sell on Shopify, as well as marketplaces, people familiar with the matter said. Society officials say a healthy channel mix is ”critical” to ensuring strong relationships with customers.
“Their team has done an incredible job building a great brand,” said Michael Sirpilla, co-founder and CEO of Society Brands. “We remain true to identifying and acquiring strong brands that have loyal consumer followings and have built thriving e-commerce revenue bases. These brands are a great fit for our portfolio. Moreover, we are confident that this transaction will enable us to work together as a unified group to take both brands to the next level.”
The majority of Society's revenue comes from direct-to-consumer sales through Shopify, with some wholesale and a small number of sales coming from e-commerce marketplaces.
“We expect Society Brands' growth to accelerate significantly in 2024,” Sirpilla said. “The acquisition of Clarifion and Cleanomic comes just one month after our partnership with Primal Life Organics.”
Given the company's financial position, which has grown from $0 to $100 million in revenue in less than two years and expects to see “significant” profitability increases in 2024, Sarpira said he is “very optimistic” about the future. “I'm bullish,” he added.
Clarifion is a direct-to-consumer company that provides air ionizers and air purifiers to help consumers breathe easier. The company's products aim to represent the future of air ionization, HEPA filtration, and odor reduction. Featuring quiet ionization technology and an environmentally friendly product design, the compact size allows it to be installed in any room.
Providing a convenient alternative to everyday single-use plastic household items, Cleanomic offers a range of sustainable products for use in laundry, cleaning, kitchen and bathrooms. Since its inception, the direct sales company has expanded globally and has more than 100,000 customers who share his brand's mission of “green” homes. Apart from single product offerings, Cleanomic also successfully sells its products in bundle format as well as through a subscription model that ensures delivery of related household products every three months.
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