Australia: Vitality Brands acquires Essano

Australian company Vitality Brands has entered into an agreement to acquire Essano, a New Zealand-based beauty brand, for an undisclosed sum.

This deal will bring opportunities to expand its portfolio of established brands including Essano, Cancer Council Sunscreen, Epzen, Dominate, Shockwaves and Tribe Skincare in global markets.

“The partnership will propel Vitality Brands’ international growth strategy by introducing Essano to Vitality Brands’ vast distribution network across Australia and Asia while leveraging Essano’s growing presence in the United States to bolster Vitality Brands’ portfolio in this market significantly”,  said Vitality Brands co-founder and MD Richard Meyrick.

Essano co-founder Shane Young addd: “In addition to our companies’ shared values and commitment to delivering the highest quality, value-for-money products for our loyal customers, along with our strong trans-Tasman sense of family means that as a combined operation, we can make further inroads in the beauty sector globally”.

The transaction is expected to close by the end of March, subject to customary closing conditions.

Source: Inside FMCG / Business News Australia