Combe, Inc. has signed a definitive agreement to acquire the Astroglide brand and its parent company, BioFilm, from the Wray Family. The transaction, subject to regulatory approval and other customary conditions, is expected to close during the second quarter of this calendar year.
"Sexual health and wellness is an important category for Combe, and Astroglide represents a powerful addition to our existing portfolio of leadership brands," stated Combe executive chair Keech Combe Shetty. "Our mission has always been to serve the most personal personal care needs of our consumers, and Astroglide aligns perfectly with that mission."
Invented by rocket scientist Daniel X. Wray, Astroglide experienced double-digit compounded growth over the last five years. Astroglide, combined with Combe's intimate health brand, Vagisil, gives Combe a strong leadership position in a dynamic and growing wellness category, the company said.
[Read more: How the sexual wellness category is benefiting from innovation and increased shelf space]
"I am proud of the dynamic business my family and our team of amazing employees have built," said Lois Wray, co-founder and majority shareholder of BioFilm. "I am delighted to have our company be acquired by the Combe family. There is strong strategic and cultural alignment between our two entrepreneurial women-owned family enterprises, and this is a wonderful home for our business and brand."
Combe expects to partner with the BioFilm management team and leverage BioFilm's operating platform to continue driving Astroglide's expansion and growth in the U.S. and internationally.