Mammoth Brands, Owner of Harry's and Coterie, Eyes IPO as It Challenges CPG Giants

Mammoth Brands, the parent company of Harry's, Lume Deodorant, and Coterie diapers, is positioning itself as a modern alternative to legacy consumer packaged goods conglomerates and is considering an initial public offering as soon as late 2025. The company reported $835 million in revenue and nearly $100 million in adjusted EBITDA in 2024, with a compound annual growth rate exceeding 20% over the prior five years. Co-CEOs Andy Katz-Mayfield and Jeff Raider, who previously co-founded Warby Parker and worked at Bain & Company and Charlesbank Capital Partners, say their goal is to build the kind of company Procter & Gamble or Unilever would be if founded today. A key differentiator, according to the founders, is their direct-to-consumer origins, which oriented the business around the end consumer rather than the retailer — a contrast to how traditional CPG companies typically operate. Analysts at RBC Capital Markets note that legacy giants initially dismissed these upstart brands as 'ankle biters' but are increasingly taking the competitive threat seriously as it reaches a tipping point. Mammoth's growth mirrors broader trends in the CPG space, where brands like Poppi and Olipop have similarly challenged established beverage giants by offering consumers better prices, higher quality, or cleaner ingredient lists.