Skincare company bets big on e-commerce
The publicly listed consumer staples company has purchased Nourish Life, alongside its house-brand “life basics” which will be added to BWX’s brand portfolio.
The move will be subject to capital raising and follows a declared trading halt in BWX shares on Friday, with $17 million of the initial $16 million cash payment already raised. $4 million of the purchase price is attributed to BWX shares.
Nourished Life’s FY18 sales are forecasts to exceed $25 million, with pro-forma standalone EBITDA expected to be exceed $4 million.
“The Nourished Life transaction is an excellent opportunity to acquire a highly profitable online platform with proven social media and digital capabilities, which can be leveraged across our business and brands in this increasingly important channel,” BWX CEO John Humble said.
There are currently around 3,500 individual SKUs on Nourished Life, across organic skincare, body care, hair care and makeup. Nourished Life’s original founder and owner, Irene Falcone, will continue to run the business once its acquired, having committed to a minimum 4-year period.