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Jurlique International Announces Acquisition by POLA Orbis
Jurlique International Pty. Ltd. announced today the signing of a share purchase agreement with POLA Orbis Holdings Inc. (POLA). POLA will acquire 100% of Jurlique's shares.
"The POLA transaction represents a significant and exciting milestone for Jurlique," Jurlique's President & CEO, Sam McKay stated. "Our brand is well positioned with a strong presence and compelling momentum in key strategic markets, with a focus on Asia, the Americas and our home market Australia. I look forward to working closely with POLA to pursue opportunities to further accelerate growth on a global scale; both in terms of greater penetration of existing multi-channel distribution and geographic expansion."
McKay continued, "We are fortunate to have passionate and talented employees, supportive business partners and loyal customers, all of whom have played a significant role in growing Jurlique globally." The existing management team will continue with the company and work closely with POLA to leverage synergistic opportunities.
"Jurlique is a special brand that is uniquely positioned to own the global natural skincare market," Jurlique's Chairman, John Hansen stated, adding that, "POLA is a wonderful partner for Jurlique and we will watch with interest as the brand continues to go from strength to strength."
The transaction is scheduled to close once certain regulatory and commercial approvals are received.
Founded in 1985, Jurlique utilizes plants and botanicals grown on a company owned, 153 acre biodynamic farm in the Adelaide Hills, Australia together with natural ingredients sourced globally to produce its products. Jurlique has a multi-channel business model that encompasses concept stores, department stores, specialty retailers, spas, duty free/airlines, and e-commerce in Australia, Asia, the United States and Europe. Jurlique is the leading skin care brand in Australia and experiencing significant growth in Asia.
POLA Orbis is the fourth leading cosmetic company in Japan and has been developing its business model around the cosmetics industry with a recurring theme of "beauty and health" since its founding in 1929. POLA Orbis also operates in overseas markets, including China and Russia, employing a multi-channel strategy with multiple brands to meet diversified customer demands and increase market share. With its 29 consolidated subsidiaries, POLA Orbis has consolidated sales of ¥ 165.2 billion (U.S. $2 billion) for the fiscal year ending December 31, 2010.
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