Australian skincare company Vitality Brands has announced its acquisition of Kiwi beauty brand Essano, a move that is projected to generate an impressive $130 million in annual turnover. This strategic acquisition positions Vitality Brands as a prominent player in the natural beauty and wellness market in Australasia and New Zealand. Essano will now join Vitality Brands’ existing portfolio, which includes renowned brands like Epzen, Cancer Council sunscreen, and Tribe.
The completion of the acquisition is expected to take place by the end of this month, marking a significant milestone for both companies. Richard Meyrick, the co-founder and Managing Director of Vitality Brands, expressed enthusiasm about the partnership, stating, “The combination of Vitality Brands and Essano presents an exciting opportunity to further advance our international standing in the beauty sector.” Meyrick recognized Essano’s strong presence and loyal customer following in the New Zealand market, emphasizing that Essano’s brand would be a vital ingredient in their global expansion plans. He highlighted the importance of leveraging Essano’s innovation and research and development capabilities to benefit the wider Vitality Brands portfolio.
As part of the acquisition, Pencarrow Private Equity will divest its stake in Essano, resulting in Essano returning to full private ownership. This transition allows Vitality Brands to utilize its proven expertise in building and growing brands to propel Essano’s international growth. Anthony Gadsdon, co-founder of Essano, expressed optimism about the collaboration, stating, “The ability for Essano to access the resources and support of Vitality Brands, as well as share ideas and knowledge, will accelerate Essano’s international growth and contribute to unlocking its full potential.”
In line with their expansion plans, Vitality Brands aims to establish a workforce in New Zealand, where Essano will continue to operate its manufacturing site. This commitment to local operations ensures continuity and underscores the significance of Essano’s presence in its home market.
