Self-tanner and skincare brand Bondi Sands has been sold to Japanese chemical and cosmetics giant Kao Corporation in a $450 million deal.
Kao, established in 1887, owns popular skincare and haircare brands such as Biore, Jergens, Oribe, and KMS.
Shaun Wilson, CEO and co-founder of Bondi Sands, will remain with the company under new owner, and Blair James will continue as creative director.
The manufacturing of the company’s products will remain in Melbourne.
The integration of Kao’s scientific and technological resources is “an unparalleled opportunity” to grow the brand, Wilson told The Australian Financial Review.
“With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission,” he said.
Founded in 2012, Bondi Sands has grown to secure the number one spot in the self-tanning market.
The brand is currently sold through more than 40,000 stores across the world and posted sales of $105.8 million in FY22.
