Hello Bello, the baby and family care products manufacturer, has a new owner.

The Pacific Palisades company was acquired last month by Hildred Capital Management, a health care focused private equity firm in New York City, after filing for bankruptcy in October, for a reported $65 million.

Erica Buxton, president of Hello Bello, said she and the company’s employees were excited to be part of the Hildred family of companies.

“Hildred has a great deal of experience in this space and with their partnership, we are confident that we will continue to not only make great products but increase our efficiency and manufacturing capacity for our customers and retail partners,” Buxton said in a statement. “We will now be in a stronger financial position and benefit from operational expertise from both Hildred and similarly situated businesses in its portfolio.”

Founded in 2019 by actors and couple Kristen Bell and Dax Shepard, Hello Bello has grown from startup to a larger company providing diapers, wipes, sunscreen and other products for mother and baby.

In 2021, the company opened its manufacturing plant in Waco, Texas.

Hello Bello is the couple’s attempt to democratize baby care so parents don’t have to choose between what’s good for their baby and what’s realistic for their budget, according to a story from Business Insider from April 2019.

“We had the access and the resources to use the very best products on our kids,” Shepard told Business Insider, “and we felt like it wasn’t fair that price would be a barrier for some families who wanted to make the same choice.”

As the new owner of Hello Bello, Hildred will incorporate the brand into Hyland’s Naturals, a Hildred portfolio company based in West Rancho Dominguez, and a pediatric consumer health company.

Hyland’s Naturals offers complementary resources to accelerate Hello Bello’s growth, according to a release from Hello Bello.

Andrew Goldman, co-founder and managing partner of Hildred Capital, said that the addition of Hello Bello to its portfolio along with Hyland’s Naturals creates one of the most significant independent pediatric platforms in the country.

“We look forward to making it easier than ever for parents to keep their families healthy through clean and natural product offerings,” Goldman said in a statement.

Hello Bello’s mission from its beginning has been “Premium for All,” ensuring all parents can choose the best options for their babies, no matter their budget.

With the acquisition by Hildred, Hello Bello will continue to offer its premium products at affordable prices and with convenient accessibility, both in top retailers and online, throughout the United States.

Shepard told Business Insider that the company strives to use the highest percentage of sustainably sourced, organic material possible, while being mindful that the product still has to be functional.

“There are some facets of diapers and shampoo (adhesive and tear-free respectively) that require non-organic solutions,” Shepard said. “But everything is still plant-based. And we are far from done. We want to come up with better solutions for laundry detergent packaging. As better technologies become available, we will be quick to adapt.”