Seaweed Bath Co has announced the acquisition of Andalou Naturals and Mineral Fusion from the Australian conglomerate BWX. Financial terms of the deal were not disclosed; Natureza Growth Partners led financing for the acquisition and Managing Partner Collin Eckles will join Seaweed Bath Co’s board.
The total revenue of all three brands is estimated to be up to $50 million. BWX acquired Mineral Fusion for a reported $38.4 million in 2017. At that time, Mineral Fusion had roughly $24 million in sales. That year, it acquired Andalou Naturals.
The acquisition will increase operational efficiencies and allow the three brands to streamline product development. All three brands are sold via Whole Foods Market, Amazon, Sprouts Farmers market and Natural Grocers, among others.
Seaweed Bath Co CEO Tim Schaeffer said the acquisition of Mineral Fusion and Andalou Naturals, based on fruit stem cell science, creates an opportunity to streamline product innovation and increase efficiencies to meet consumer and retail needs.
Ecovia Intelligence Comment: Consolidation is occurring in the North American market for natural personal care products. The competitive landscape comprises many brands, with few having a large market presence. Seaweed Bath Co looks to develop synergy between the three brands, especially in terms of marketing and distribution.
Related Report: Global Market for Natural & Organic Personal Care Products
