Green Merger: Method Bought by Ecover
Green cleaning company Method has found a new home: European manufacturer Ecover has purchased the home-care products maker for an undisclosed sum from San Francisco Equity Partners.
"This transition marks a new chapter in the evolution of our business," said Method co-founder Eric Ryan in a statement released on Tuesday.
The new union would forge the world’s largest green cleaning company, with a combined $200 million annual revenue, reports by The Financial Times. The outlet also reports that while sharing the same green vision, the two companies will continue to run as separate brands.
With the tagline “people against dirty,” Method first made a splash in the green cleaning market in 2000 with its line of nontoxic and biodegradable cleaners. Inc. reported in 2007 that Method’s 2003 revenue of $11.7 million had catapulted to $71 million within three years.
Currently more than 40,000 retailers throughout the U.S., Canada, United Kingdom, Australia and France carry Method products, which range from disinfecting wipes to laundry detergent.
Ecover operates in the same environmentally friendly vein, with two manufacturing facilities in Belgium and France that churn out renewable plant-based cleaning products. The company sells 35 different products in 40 countries, according to the U.K.'s The Grocer.
“The marriage of our two brands makes perfect sense, as we are both companies rooted in a deep heritage of sustainability, innovation, and making people’s lives healthier and happier," said Method CEO Drew Fraser in a statement.