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SOURCE Hello Products LLC
MONTCLAIR, N.J., March 18, 2013 /PRNewswire/ -- Hello Products LLC today announced that it has received financing from a group of strategic investors led by Tenth Avenue Holdings (TAH) for the company's breakthrough line of unique, branded oral care products designed in partnership with BMW Group DesignworksUSA, the global design subsidiary of BMW Group. The company's proprietary hello™ branded products will debut in March at various Food, Drug, and Mass retail stores nationwide.
The company's lead investor, New York City-based Tenth Avenue Holdings, is a private, diversified holding company, and its Co-CEO's, Joel Citron and Laurence Denihan, join hello's Board of Directors. Additional investors include William Morris Endeavor, Harmony Partners, and a select group of strategic consumer packaged goods and retail veterans.
Joel Citron, Co-Chief Executive Officer of Tenth Avenue Holdings, stated, "We see great promise for hello to shake up a staid category and give consumers a brand and experience they can really embrace. We believe that hello's products bring a velocity of change – comparable to the technology industry – to the stasis of the oral care aisle, which looks today a lot like it did 30 years ago. As a firm, we are always interested in brands and products that relate to how consumers see the world and themselves, and hello's philosophy and design-centric, 99% natural positioning make for a perfect fit."
He added, "Because Tenth Avenue Holdings is privately held, we have no restrictions, and our singular focus is investing in opportunities with the outsized potential for long-term growth. We believe in Craig and the power of hello, and we plan to build this relationship, and our mutual success, for the long haul."
"We are extremely fortunate to attract such a stellar group of investors and advisors," said Craig Dubitsky, hello's founder and CEO. "This unique group of partners brings an unparalleled depth of operating experience, insight, key relationships, and financial resources to the table. It's truly a dream team, and we can't wait to create the future together."
"Craig understands consumers and their needs, and hello is evidence of that," said Ari Emanuel, Co-Chief Executive Officer of William Morris Endeavor. "It's a great line of products, and we look forward to being a part of the brand's future."
Harmony Partners co-founder, Mark Lotke, who was an early stage investor in both E*Trade and Priceline.com, noted "Craig has assembled a great constellation of partners that will enable hello to make a significant impact in a category that hasn't seen material innovation in decades. We are extremely excited to be a part of what we feel will be the next major success story in the consumer space."
The company has also established a strategic Board of Advisors, with deep domain expertise across consumer packaged goods, branding, marketing, and merchandising.
"I spent a lot of time in the oral care aisle during my 36 year retail career, and learned not to expect a lot of excitement," said Chris Bodine, an investor and member of hello's Advisory Board, and previous EVP of Merchandising and Marketing and President of Healthcare Services at CVS Pharmacy. "When Craig introduced me to hello, I knew I had to be a part of it. Hello is innovative, revolutionary and disruptive – and totally appealing. I strongly believe that once shoppers discover hello, they'll wonder why they ever settled for anything else."
John Replogle, CEO of Seventh Generation, former CEO of Burt's Bees, and GM of US Skincare at Unilever, an investor and member of hello's Advisory Board, said "Every 10 years a visionary entrepreneur and transformational brand comes along in a category that needs to be reinvented. Craig is that visionary, hello is that brand, and now is the time. I've been in CPG for 25 years and I've rarely been more excited about the ability of one brand to transform a category and the way consumers greet the day. Hello!"
In addition to rolling out its products nationwide, the company plans to use the financing to invest in proprietary packaging, inventory, marketing and retail development, as well as continue to invest in new product development and sales expansion.
About Hello Products
hello is the first-ever seriously friendly™ oral care brand for consumers, and believes it is time that personal care became, well, personal again. And beautiful. So, hello has created a 99% natural, delicious, pain-free and gorgeous product line that includes toothpaste, mouthwash, breath sprays and toothbrushes. For more information – or to pop by, say hello, and make new friends – please visit www.hello-products.com.
About Tenth Avenue Holdings
Tenth Avenue Holdings (TAH) is a private, diversified investment holding company based in New York City with permanent equity capital in excess of $500 million. TAH is able to structure customized deals and opportunistically invests in public and private companies as well as real estate across a broad range of industries in the continental US. The firm was founded in 2009, upholds strict ethical standards and professional integrity, and is a strategic partner to its portfolio companies and management teams. It has a distinctive approach to owning and capitalizing businesses and entrepreneurs with a focus on long term growth, ongoing cash flow and capital appreciation. For more information, please visit www.tenave.com.
About William Morris Endeavor
William Morris Endeavor (also known as WME) is the largest and oldest global talent agency, with offices in Beverly Hills, New York City, Nashville, London, and Miami. The company was founded as the William Morris Agency in 1898, becoming the first talent agency in the world, at the time representing vaudeville artists. Now, WME represents artists from all facets of the entertainment industry, including motion pictures, television, music, theatre, digital, publishing, lifestyle, and physical production. WME also advises some of the world's most recognized consumer brands to create "entertainment-based marketing solutions". WME is the result of the 2009 merger of the William Morris Agency with the Endeavor Agency, which combined the oldest talent agency in the world with the newest of the "major" agencies, respectively.
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