Vitality Brands announces acquisition of Essano
THE WHAT? Vitality Brands has announced that it is set to acquire Kiwi beauty brand, Essano. The deal is expected to close by the end of March with Pencarrow Private Equity surrendering its stake in the brand financial terms were not disclosed.
THE DETAILS According to a report published by Inside Retail, Vitality Brands will build its own workforce in New Zealand, where Essano will continue to operate its manufacturing facility.
THE WHY? Vitality Brands Co-founder and MD, Richard Meyrick, told Inside Retail, The combination of Vitality Brands and Essano presents an exciting opportunity to further advance our international standing in the beauty sector. Essano has a strong presence and loyal customer following in the New Zealand market and the Essano brand will be an essential ingredient in our plans to expand the entire portfolio of brands across the globe as we leverage Essanos innovation and R&D capabilities to benefit the wider Vitality Brands portfolio.
