Brand incubator Harry's Lab is acquiring deodorant brand Lumē, according to Tech Crunch. The move follows Edgewell Personal Care's canceled 2020 acquisition of Harry's.
Harry's Lab raised a $155 million Series E round earlier this year that gave the company a $1.7 billion valuation.
Harry's Lab will reportedly scale Lumē and accelerate its D2C growth.
The acquisition is expected to close by the end of 2021.