Procter & Gamble has a history of acquiring small but fast-growing brands, like Native Deodorant and women's shaving brand Billie.
When P&G will scoop up its next upstart brand isn't clear. CFO Jon Moeller said at a presentation in June that the spread of COVID-19 has made it harder to evaluate potential deal targets, including schmoozing startup executives. Experts on the consumer goods industry say there are still acquisition opportunities even with the challenges posed by the pandemic.
"The beauty of a lot of big CPG companies is that they are more comfortable paying a premium for a sure thing than investing over an even longer timescale for something that has more risk," he added.
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