The Inside Story Behind P&G’s Acquisition of TULA Skincare
“Dan Reich co-founded TULA in 2013 and eventually sold his company in 2022 to Proctor & Gamble,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business. “When TULA was generating approximately $10 million in revenue Dan fired himself as CEO and brought in professional management. His plan worked and when he did sell his company in 2022 revenue was at $100 million.”
In 2013, Dan Reich and his partners founded TULA, a digitally native, probiotics-infused skincare line.
Reich bootstrapped TULA to around $10 million in annual revenue when he realized he needed to replace himself as CEO.
The company thrived under professional management, and by 2022, TULA had achieved revenue of over $100 million and received an acquisition offer from Procter & Gamble. In this episode, you’ll learn how to:
- Know when to fire yourself as CEO.
- Uncover fresh opportunities in stagnant markets.
- Safeguard your idea from corporate giants.
- Use convertible debt to finance your business.
- Choose an acquirer that aligns with your company’s vision.
- Understand the dual role partners play in shaping your brand’s value.