SECTOR: Consumer Products | Personal Care Products

RELATED PRACTICE: Cost Reductions | Strategic Growth Initiatives | Revenue Growth | Organizational Improvement | Risk Mitigation


The Challenge

A personal care products brand (“The Company”) was introduced to Forsyth Advisors through its Private Equity owner to partner together and expand capacity to handle further entry into big box-retail.

In kickoff discussions with The Company’s management team, Forsyth Advisors learned that The Company’s contract manufacturer could not support growth initiatives due to limited capacity and capabilities.

Approach And Execution

Forsyth Advisors subsequently identified 100 manufacturers located in the United States, Mexico, and Canada to develop a shortlist of manufacturers that met The Company’s unique requirements. The Company’s selected manufacturer provided increased product quality and consistency, significant lead time reductions, and freight cost reductions resulting from a more centralized location – synergizing with their current operations. During this initial phase of work, Forsyth Advisors also discovered an opportunity to provide multiple ancillary benefits to supply chain operations by securing The Company’s formula ownership and improving current product formulations. After further analysis of The Company’s challenges, Forsyth Advisors verified that we could improve their material costs by negotiating make & fill costs with CMOs and implementing a rebate structure that benefited both The Company and their suppliers. Forsyth Advisors then tracked and managed product testing of all new formulas, SKUs to ensure consistency and quality, and enabled The Company to research & develop (R&D) new products while industrializing all products.

Forsyth Advisors worked closely with the CEO to meet their distribution strategy and growth initiatives by doubling manufacturing capacity (1M+ units per month) and supplier capabilities. We were also able to provide cost savings on packaging while developing a strategy to reach future state Environmental, Social, and Governance (ESG) initiatives to use 100% PCR bottles by 2030. With Forsyth Advisors’ help, The Company experienced 30% year-over-year growth in the first year, achieved their transition to big-box retail, and exceeded distribution and operation goals. Forsyth Advisors delivered considerable, future-defining value that went beyond simply improving The Company’s costs.


Combined Quality of Earnings (QofE) defensible EBITDA improvements amounted to $6.5 Million [or 20%] while freeing up an additional $2.7 Million of cash improvement. The Company utilized the savings and cash improvement for brand campaigns that resulted in market share growth.

Download The Full Case Study

Our case study examines how a personal products brand partnered with Forsyth Advisors to expand capacity and reduce costs of raw materials, packaging, and distribution.


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