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Skin Elements to buy Tom McArthur operations
Posted on Thursday, 20 April 2017 12:35
Skin Elements has signed on the dotted line to purchase the business and assets of Tom McArthur, the Australian owner of the McArthur Skincare range, for AUD 1.00 million (USD 752,120) in order to increase its product range and development team.
The consideration comprises AUD 400,000 in cash and AUD 600,000 in shares.
Director of McArthur Skincare, Gregory Kay, stated: “This acquisition will result in a complimentary and extensive range of cosmetic and therapeutic skin and hair care products containing natural ingredients.
“McArthur Skincare believes this will result in substantial growth across various sales channels both in the Australian and international markets.”
Closing is slated for 27th April 2017, subject to the usual raft of conditions, including the completion of due diligence.
The deal is expected to have a positive effect on Skin Elements’ earnings, while transforming the business into a natural skin care company with increased scale and size.
Following completion, the buyer will have 29 products covering the therapeutic skin care, sun care, cosmetic skin and beauty care sectors.
McArthur Skincare was incorporated in 2010 and claims to be one of Australia’s leading makers and distributors of natural skin care goods, generating total sales of more than AUD 22.00 million.
The company is based in Perth and its items are manufactured at approved laboratory facilities in Brisbane.
West Perth-headquartered Skin Elements manages leading products including the Soléo Organics 100.0 per cent natural and organic sunscreen and the Elizabeth Jane Natural Cosmetics brand.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 63 deals targeting toilet preparation manufacturers announced worldwide so far in 2017, with the KRW 191.03 billion (USD 167.19 million) acquisition of South Korea-based Hanbul Cosmetics by It’s Skin being the largest.
Other companies targeted in the industry include Clio Cosmetics, Amore Pacific and McBride.
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