Vitality Brands has recently announced its acquisition of the renowned New Zealand beauty brand, Essano. The deal, slated for closure by the end of March, will see Pencarrow Private Equity relinquishing its stake in Essano, although financial specifics remain undisclosed.
Reported by Inside Retail, Vitality Brands intends to establish its own operational team in New Zealand, where Essano will maintain its manufacturing operations.
Richard Meyrick, Co-founder and Managing Director of Vitality Brands, expressed enthusiasm about the acquisition, stating to Inside Retail, “The amalgamation of Vitality Brands and Essano marks an exciting opportunity to bolster our global presence within the beauty industry. With a solid footprint and devoted customer base in New Zealand, the Essano brand will play a pivotal role in our strategic expansion efforts worldwide. We aim to leverage Essano’s innovation and research and development capabilities to enhance the broader Vitality Brands portfolio.”
The acquisition of Essano signifies a significant move for Vitality Brands, poised to capitalize on Essano’s established market presence and innovative capabilities to fuel its growth trajectory in the global beauty market.
