Procter and Gamble (P&G) have announced the approval and closing deal of its acquisition of Australia’s leading effervescent vitamin brand, VOOST, for an undisclosed sum.
This acquisition has enabled P&G to strengthen its medical footprint in Australia. The addition of VOOST Vitamins, with its range of consumer-preferred brands, allows the company to rapidly expand its consumer healthcare portfolio into vitamins, minerals and supplements.
“This move enables us to expand our portfolio in Australia, beyond Vicks and Metamucil, by adding a broad range of consumer-preferred vitamins, minerals, and supplements (VMS) that will complement our current offerings. VMS is one of the largest and fastest-growing categories in the over-the-counter health care industry and remains an important segment for P&G. We are pleased to continue investing in our business and advancing our VMS offerings by adding another superior brand to our strong health care portfolio”, said Paul Gama, President, P&G Personal Health Care.
“VOOST Vitamins brings to P&G an innovative range of consumer-preferred vitamins, minerals and supplements brands in the effervescent form that has high affinity amongst millennials, driven by disruptive packaging and sought-after attributes such as great taste, sugar-free and preservative-free, and many vegan formulations. It will be our endeavour to accelerate VOOST’s strong growth momentum in Australia, through leveraging P&G’s brand-building expertise and Go-To-Market capabilities that enable us to better serve our consumers”, said Kumar Venkatasubramanian, Senior Vice President, P&G Australia and New Zealand.
With its headquarter in Melbourne, VOOSt Vitamins has had a strong presence in Australia since its foundation in 2013 and has been in leading grocery and pharmacy retailers such as Priceline Pharmacy, Woolworths, Coles and Chemist Warehouse. The company has also expanded its international presence to Singapore, UK, and Hong Kong.
“We launched VOOST in 2013 with a mission to disrupt the effervescent category and provide millennial consumers with the highest quality effervescent vitamins and minerals which are affordable yet don’t compromise on quality or taste. With a focus on premium ingredients, great taste and a beautiful contemporary design, we have developed one of the largest selections of effervescent formulations in the world and are now the leading effervescent supplement brand in Australia with a strong customer base across both domestic and international markets. I am incredibly proud of what my dedicated team has been able to achieve over the past seven years and I have no doubt that the strength and global leadership of P&G will elevate the brand to a new level and enable VOOST to reach further markets and experience strong, sustained growth in the years to come,” said Thomas Siebel, VOOST Vitamins Co-founder and Managing Director.
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