Dive Brief:
- Expanding its portfolio, Japanese beauty company Kao Corp. — along with its Australia- and U.S.-based subsidiaries — will acquire Bondi Sands, according to a company press release Tuesday. Terms of the deal were not disclosed and it is subject to normal regulatory review and approval.
- Bondi Sands is an Australian sun product brand founded in 2012 with offerings ranging from self-tanning to sun protection. The acquisition will allow Kao to focus more on the skin protection category and the company plans to continue investment in the category globally.
- Bondi Sands joins the Kao Consumer Care Business portfolio that includes John Frieda, Jergens, Curél, Bioré and more.
Dive Insight:
Already available in over 32 countries, Bondi Sands hopes the acquisition will enable it to expand further.
“Kao’s values and principles match those of Bondi Sands, as we both share an unyielding commitment to delivering innovative products that protect the skin and enhance the lives of our valued customers worldwide,” Shaun Wilson, co-founder and chief executive officer of Bondi Sands, said in a statement. “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, 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 fulfill our company mission.”
For the quarter ending March 31, Kao reported its health and beauty care business saw an 8% year-over-year increase in net sales while its cosmetics business experienced an 8% decline.
Bondi Sands joins a growing list of brands that have been acquired so far in 2023. Hair care brand Mielle Organics was acquired by Procter & Gamble in January and L’Oréal agreed to buy personal care company Aesop for $2.5 billion in April. In July, Foundry acquired men’s personal care brand Blu Atlas and FullBeauty Brands announced its acquisition of intimates company Cuup.
