Hugo Naturals, a premier manufacturer and marketer of luxurious, handcrafted, all-natural personal care products, is now poised to dramatically raise the bar for the natural products industry. Founded in 2006, the company just finalized a strategic investment led by the private equity firm Manhattan Growth Partners, and included an investment from the Matthew Pritzker Company, who were compelled by the brand's unequivocal reputation for quality and innovation as well as its huge growth potential.
To lead the charge, the company recently announced the appointment of Steven Dickstein, a sales and marketing veteran of 25 years, known for boosting growth and profitability at both Fortune 100 and middle market companies, to the position of Chief Executive Officer. Dickstein will work with the company's founders and new management to further develop the brand and leverage its appeal through increased availability globally. Founders Hugo and Debra Saavedra will take on positions of Chairman/Chief Innovation Officer and President/Chief Creative Officer, respectively.
"With the demonstrated brand success and now the significant capitalization, we are ready to grow this gem of a business," said Dickstein. "I was immediately attracted to the opportunity to reframe the natural organic products arena with a company that operates at a level of product integrity way beyond the industry standards."
According to Dickstein, plans include a scale-up of operations to better support current customer demand and then expand distribution across the U.S. and internationally. To accommodate the increased distribution, Hugo Naturals will transition into a new nearby manufacturing and headquarters facility in the coming months. The new facility will support a ten-fold increase in production to support the rapidly increasing demand while remaining true to its handcrafted, innovative product design.
The boost in strategic funding and leadership comes to Hugo Naturals at a time when the natural personal care products industry is posting strong global gains even through the recession. "While natural product demand is growing, so too is consumer understanding about what being truly natural means," said Dickstein. "Unlike others just making claims, the Hugo Naturals line is made from only the highest quality vegan, natural, organic and kosher food-grade ingredients, exceeding today's industry standards and setting the bar for the standards of tomorrow."
Hugo Saavedra, the product innovation engine of the company, drew from decades of experience as a chef and organic herb farmer, to handcraft unique soaps made from farm-fresh herbs and sold them with much success at local farmers' markets in Southern California. With a huge following from the initial soap line, Hugo and his wife Debra Saavedra started Hugo Naturals in 2006 and expanded their product offering to include lotions and other personal care items. "Debra and I share an incredible passion for creating products that enhance people's lives and that are good to the planet," said Hugo Saavedra. "We believe people should only put on their body what they would want to put in their body! We are incredibly excited about now having more consumers using our beautiful products."
In just a few short years, Hugo Naturals has developed a reputation as a pioneer in product development and innovation with quality standards so high that they were one of the first to receive the coveted Premium Body Care seal of approval from industry icon Whole Foods Market, the world's leading retailer of natural and organic foods.
"We have been a proud supporter of Hugo and the brand since their inception. The entire product range meets our industry-leading standards for quality sourcing, environmental impact, efficacy and safety," said Jeremiah McElwee, Senior Whole Body Coordinator, Global Purchasing, Whole Foods Market. "With the additional resources and leadership additions, we look forward to seeing what comes next from Hugo," added McElwee.
About Hugo Naturals:
Hugo Naturals is a rapidly growing marketer of branded all natural personal care products that are handcrafted from only of the highest quality, all-natural ingredients. The company has grown revenues more than 50% per year since its inception less than four years ago. The product range includes over 150 SKU's in categories such as bar and bulk soaps, body and hand lotions, hair care products, face and body scrubs, baby care products. They are sold primarily in U.S. and Canadian specialty food and independent health and beauty retail channels. To learn more about Hugo Naturals products, please contact Amy Wein, Senior Vice President of Creative Media Marketing at 212.979.8884 or [email protected] and visit www.hugonaturals.com.
About Manhattan Growth Partners:
Manhattan Growth Partners is a progressive thinking private equity firm focused on control equity investments in high growth consumer businesses. With a collective 21 years in business development and private equity investing, Managing Partners Dean Bosacki and Patrick McBride possess significant entrepreneurial, operating, and investing experience. Combined, they have completed nearly 50 private equity transactions representing over $500 million in value. For more information, visit www.manhattangrowth.com.
About Matthew Pritzker Company:
Headquartered in Chicago, IL, Matthew Pritzker Company, LLC is a family office that makes direct equity and debt investments in middle market growth companies and real estate assets. The company focuses on businesses with a proven business model that are efficient in their capital needs regardless of their specific industry.