05.18.23
FemTec Health Inc. has sold its Birchbox assets to Retention Brands.
FemTec originally acquired Birchbox for $45 million in 2021 with plans to extend the brand beyond beauty products to a more holistic health and wellness offering.
At the time, the outlook seemed optimistic, but things did not pan out as planned. In 2022, Birchbox was rumored to be considering bankruptcy.
Earlier this year as part of its strategic tightening around core healthcare businesses, FemTec Health engaged a national financial consulting firm to advise and explore possibilities for the sale of some of its non-core and underperforming assets. In an open bid process, the company's Birchbox assets were purchased by Retention Brands through an assignment for the benefit of creditors.
Retention Brands invests in subscription commerce and eCommerce businesses and has a proven track record in the subscription retail space.
FemTec originally acquired Birchbox for $45 million in 2021 with plans to extend the brand beyond beauty products to a more holistic health and wellness offering.
At the time, the outlook seemed optimistic, but things did not pan out as planned. In 2022, Birchbox was rumored to be considering bankruptcy.
Earlier this year as part of its strategic tightening around core healthcare businesses, FemTec Health engaged a national financial consulting firm to advise and explore possibilities for the sale of some of its non-core and underperforming assets. In an open bid process, the company's Birchbox assets were purchased by Retention Brands through an assignment for the benefit of creditors.
Retention Brands invests in subscription commerce and eCommerce businesses and has a proven track record in the subscription retail space.
