Genuine Health, a Canadian supplements company, is making what is said to be its first acquisition in its 26 year history with the purchase of natural skincare firm Basd for an undisclosed sum, according to an article in Beauty Independent.
The Basd lineup comprises around 10 products including body wash, body lotion and an exfoliating coffee scrub.
Commenting on the deal, Genuine Health CEO and founder Stewart Brown said: “Natural beauty is one of the fastest-growing categories and is a space we are excited to have more of a voice in. We’ve explored ingestible beauty in the past, but I think we were ahead of our time and believe it aligns better with a beauty brand versus the supplement side. With the partnership of the Basd brand and our expertise in natural health, we think we can bring some exciting innovation to the category”.
“It was an opportunity to accelerate the growth with an organization that brings expertise in manufacturing and retail support”, added Basd co-founder Phil LeBeau. “It allows us to amplify our message and reach the consumer and retailers in a way that’s not always possible when you are a small brand”.
Source: Beauty Independent