Bondi Sands, the homegrown self-tanning and skincare brand founded in Melbourne circa 2012 and “inspired by Australia’s most iconic beach,” has been acquired by Japan’s Kao Corporation through a $450 million sale.
The $26 billion Tokyo-listed giant, which specialises in both cosmetics and chemicals, already owned an entire host of skincare brands ranging from Bioré and Jergens; and clearly intends to expand its burgeoning portfolio with this latest acquisition.
“The integration of Kao’s renowned scientific and technological resources into our operations is an unparalleled opportunity that will significantly contribute to the exponential growth of our brand,” Co-Founder & CEO Shaun Wilson expressed via statement.
“Empowering us to further expand our product offerings and advance our research and development initiatives.”
“With this partnership, we can now confidently explore untapped markets, reach more customers around the world, and continue to fulfil our company mission.”
According to Wilson (via The Australian Financial Review), Bondi Sands has been growing 55% year-on-year since its establishment; available in over 32 countries at the time of this writing — and yet he believes they’ve only “really just scratched the surface” in terms of growth opportunities.
“America is a big focus for the company, we just launched into Walmart so that’s 4,000 doors next month,” Shaun Wilson told the AFR.
“We also have strong distribution with Ulta, Walgreens, CVS, and Target, and we are leaders on Amazon.”
The chief executive added that Bondi Sand’s sale to Kao Corporation will also open the door to consumers in Asia plus Brazil, where suncare/skincare are a “strong focus.”
As per Kao’s official statement, the deal — executed by its US subsidiary — is pending “normal regulatory review and approval.”