Yahoo Finance EXCLUSIVE: Seaweed Bath Co. Acquires Andalou Naturals, Mineral Fusion
Seaweed Bath Co., the ocean-inspired natural beauty brand, has acquired Andalou Naturals and Mineral Fusion from Australian conglomerate BWX Ltd.
Terms of its first acquisition were not disclosed, but WWD understands total revenue of the three brands combined is around $40 million to $50 million.
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WWD first reported these two brands were for sale in 2023. BWX acquired Mineral Fusion in 2017 for $38.4 million. At that time, Mineral Fusion had about $24 million in sales; later that year, it also acquired Andalou Naturals.
“We have admired Andalou Naturals and Mineral Fusion for a long time, and we are thrilled to bring together the resources, knowledge and extensive experience of the team,” said Allison Grossman, cofounder of Seaweed Bath Co., of the acquisition.
She and her husband, Adam Grossman, founded the brand in 2010 when the latter sought natural remedies for psoriasis. The aha moment came when he tried a seaweed bath in Ireland as it helped soothe his symptoms.
Today, bestsellers include Detox Body Soap, $7.99, Hydrate Body Cream, $14.99, and Clear Guard Sport Spray SPF 40, $18.99.
SPF, which launched just three years ago, is now the brand’s most successful category.
The acquisition of Mineral Fusion, a natural cosmetic brand, and Andalou Naturals, a natural skin care brand focused on fruit stem cell science, combined with Seaweed Bath Co.’s range of body, hair and sun care products, creates an opportunity to streamline product innovation and increase efficiencies in order to meet consumer and retail needs, according to Tim Schaeffer, chief executive officer at Seaweed Bath Co.
“Seaweed Bath does well in hair and sunscreen, in particular. Andalou is fantastic in skin care and the Mineral Fusion is of course in color cosmetics and nail polish. We love the complementarity of it and bringing the three brands together for that reason,” he said.
All three brands are available nationwide at retailers such as Whole Foods Market, Amazon, Sprouts Farmers Market, Natural Grocers and other retailers.
Natureza Growth Partners, a consumer growth equity firm, led Seaweed Bath’s financing for the acquisition. In connection with the transaction, Natureza’s managing partner Collin Eckles will be joining the board of directors, and managing partner Fernando Gentil Jr. will serve as chairman of the board.
“These acquisitions are our first step in creating a best-in-class natural beauty platform that leverages scale to drive product and sustainability innovation as well as serve the evolving needs of both retail partners and consumers,” Schaeffer added.
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