SAN FRANCISCO (AP) — European company Ecover has purchased eco-friendly household cleaning products company Method for an undisclosed sum from a U.S. private equity firm. The companies announced the deal Tuesday and say it will create the world's largest green cleaning company.
Ecover, with operates out of Belgium and France, is a top European manufacturer of green household cleaning products, ranging from laundry detergent to dishwashing liquid. The company said that the deal will enable growth of both the Method brand andt the entire category of environmentally-friendly cleaning products.
Method was founded in 2000 and its all-natural and biodegradable cleaners quickly took off. Method products are now sold in more than 40,000 retail locations throughout North America, Europe, Asia and Australia. It was owned by private equity firm San Francisco Equity Partners.
Banking firm Sawaya Segalas & Co. LLC acted as exclusive financial advisor to Method in the transaction.