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Dive Brief:
Dude Wipes on Monday announced a “strategic growth investment” from TSG Consumer Partners for an undisclosed amount. The company plans to use the funding to expand its customer base and grow its retail partnerships, per a press release.
Founders Sean Riley, Jeff Klimkowski and Ryan Meegan will continue in their current roles as CEO, CFO, and chief marketing officer, respectively. They retain a significant share of the company and controlling interest, according to Klimkowski.
Early investor Mark Cuban, who secured a 25% stake in the company for $300,000 in 2015 on ABC’s “Shark Tank,” also retains a share of the flushable wipes brand.
Dive Insight:
Dude Wipes has been in growth mode through an expanding group of wholesale partnerships and the introduction of new products. According to the company, its retail sales have increased almost fourfold since 2021 and exceeded $220 million in 2024.
Earlier this month, the company announced a toddler version of its Dude Wipes called Lil’ Dude Wipes, which are available exclusively in-store and online nationwide at Walmart.
“The reason the Dude Wipes co-founders were so excited to partner with TSG Consumer was because they also have conviction around Dude Wipes’ opportunity to become the category designer of the wet bath tissue segment of the bath tissue market,” Klimkowski said in an email. “We believe this is going to be achieved by doubling down and continuing to focus on the wet bath tissue category.”
Founded in Chicago in 2011, Dude Wipes took off in 2015 when the trio appeared on “Shark Tank” and won an investment from Cuban. Since then, the company has built a network of partnerships that includes 25,000 retail doors. Dude Wipes currently sells through Amazon, Kroger, Publix, Sam’s Club, Target and Walmart, among others.
“We bootstrapped Dude Wipes from our apartment with nothing but an idea and some guts,” the company founders said in a statement. “Now, we’re teaming up with TSG Consumer to take this thing to a whole new level.”
Over the years, the brand has used creative marketing partnerships and campaigns to broaden its consumer base. In 2023, Dude Wipes launched a partnership with the National Football League’s Cleveland Browns for the team to wear an “unsoiled” white helmet for select games. Last August, the brand launched a camo version of the wipes with a tongue-in-cheek nod to hunters and outdoorsmen.