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US-based multinational Procter & Gamble (P&G) has announced the acquisition of the Australian brand Voost Vitamins.
The Melbourne-based firm, Voost, is claimed to be the leading effervescent supplements brand in the country, available through in retailers and pharmacies and it is also distributed to Singapore, UK, and Hong Kong.
Paul Game, P&G personal health care president, said: “This move enables us to expand our portfolio in Australia, beyond Vicks and Metamucil, by adding a broad range of consumer-preferred vitamins, minerals, and supplements [VMS] that will complement our current offerings”.
Thomas Siebel, Voost’s co-founder said: “I am incredibly proud of what my dedicated team has been able to achieve over the past seven years and I have no doubt the strength and global leadership of P&G will elevate the brand to a new level and enable Voost to reach further markets and experience strong, sustained growth in the years to come”.
The move allows P&G’s footprint to increase in the country’s personal healthcare market and the FMCG giant’s expertise will help Voost to grow and reach new markets.
The deal’s financial details were not disclosed.
Source: CMO
