P&G acquired Snowberry – Skincare competitor from New Zealand.
Procter&Gamble took over its beauty product competitor from New Zealand.
P&G acquired Snowberry – internationally known skincare specialist based in Auckland. After series of acquisitions in cosmetic field accomplished by Unilever, P&G also followed the path and started to enlarge its cosmetic empire. Snowberry seems to be a good match for P&G, because of several crucial reasons. It’s specialized in using natural ingredients which suits latest global cosmetic trends. Snowberry’s main market is in China, which is repeatedly described as one of the most promising markets in the world. Last but not least, skin care producer from New Zealand perfectly matches profile of P&G cosmetic brands portfolio, which already includes such brand like SKII and Olay, and such transaction provides additional boost for market growth.
Echoes after P&G acquired Snowberry.
According to Kelly Vanasse – Spokesperson of P&G, Snowberry “brings to our collection of skincare brands unique formulas rooted in the intersection of nature and science”, which makes the acquisition “great fit for P&G”. Snowberry General Manager – Greg Billington believes that P&G interest in acquiring Snowberry lies in Snowberry policy of applying natural ingredients along with innovative approach to develop anti-ageing cosmetic solutions– reported New Zealand Herald. The same source of information suggests that transaction was worth “tens of millions” of US dollars. P&G acquired Snowberry together with its assets including plantation: Snowberry Gardens in vicinity of Warkworth, where vital ingredients are being grown and harvested.
New chances of anti-ageing, skin care market.
Although Snowberry’s skin care products are already sold in United States, China and New Zealand, the fact that P&G acquired Snowberry provides great chances to expend the market globally. P&G besides being known as one of The best places to work and being managed by one of the best CEOs, has an impressive network of distribution channels. Billington described, that such extraordinary R&D & marketing resources provides even more opportunities to develop and deliver anti-ageing solutions that Snowberry is famous for.