Vitality Brands, best known for Australia’s biggest-selling sunscreen under the Cancer Council brand, has agreed terms to acquire New Zealand natural beauty player Essano.The acquisition would take Vitality to $130 million in annual turnover. For its part, Essano would have a strategic backer to push into Asian and the United States, and outside its home-turf where it is the top-ranked natural skincare brand in New Zealand.
It should also equip Vitality Brands to steal market share from BWX’s Sukin, which in January was bought by PNB Consolidated, a vehicle run by former CEO John Humble, after a lengthy receivership.
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