Consumer goods company Mammoth Brands announced on Thursday that it will buy premium baby care brand Coterie , which counts models and entrepreneurs Karlie Kloss and Ashley Graham as investors.

The deal could value Coterie at over $1 billion, subject to earnouts based on the company hitting certain financial targets, according to people familiar with the matter. Reuters reported in August that Mammoth was in talks to buy Coterie, which was up for sale with investment bank Raymond James.

Launched in 2019 by Frank Yu, Coterie is known for its high-quality, hypoallergenic and cruelty-free diapers and skincare products, which are primarily sold online. Privately held Mammoth has a growing portfolio of brands including men’s razor company Harry’s and women’s body care brand Flamingo.

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