Vitality Brands acquires Kiwi natural beauty brand Essano

Vitality Brands, the company behind Australia's top-selling Cancer Council sunscreen, has acquired New Zealand-based natural beauty brand Essano for an undisclosed sum. The acquisition is expected to boost Vitality's annual turnover to $130 million and provide Essano with a strategic backer to expand into Asian and US markets.

Transaction snapshot

  • Deal value: N/A
  • Deal multiples: 8x EBITDA
  • Deal type: Acquisition
  • Investors: Pencarrow Private Equity to exit after seven years

The deal will enable Vitality Brands to strengthen its international presence by introducing Essano to its extensive distribution network across Australia and Asia. Essano's growing foothold in the US will also help Vitality significantly expand its portfolio in that market.

Essano, founded by Shane Young and Anthony Gadsdon in 2006, is known for its rosehip oil-based skincare products and is the top-ranked natural skincare brand in New Zealand. Its Dominate men's styling brand is also a market leader in the country.

The new owners plan to retain and grow Essano's New Zealand operations, including its manufacturing site and innovation centre. Vitality Brands' co-founder and managing director, Richard Meyrick, stated that the acquisition would help the company advance its international standing in the beauty sector. Vitality Brands also hopes to take on BWX's Sukin which was recently bought by PNB Consolidated. The company owns also owns other brands such as Tribe Skincare and Epzen.

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