Genuine Health has made the first acquisition in their 27-year history, acquiring natural body care brand Basd.
WHO: Basd was founded by Ashley Meston and Phil LeBeau, who were executives of clean nutrition company Vega. The assortment of a dozen clean body formulas is priced under $25 and distributed in 700 retail doors such as Credo, Whole Foods, and Goodness Me.
Canadian-based Genuine Health was founded by Stewart Brown and makes natural, science-based supplements. The company launched Greens+ 25 years ago as the first whole food supplement formula, which has been validated by nine clinical studies.
WHY: This acquisition allows Genuine Health to increase its footprint in their existing points of distribution.
IN THEIR OWN WORDS: “Natural beauty is one of the fastest-growing categories and is a space we are excited to have more of a voice in. We’ve explored ingestible beauty in the past, but I think we were ahead of our time and believe it aligns better with a beauty brand versus the supplement side,” Genuine Health CEO and founder Stewart Brown told Beauty Independent. “With the partnership of the Basd brand and our expertise in natural health, we think we can bring some exciting innovation to the category.”
“It was an opportunity to accelerate the growth with an organization that brings expertise in manufacturing and retail support,” says LeBeau. “It allows us to amplify our message and reach the consumer and retailers in a way that’s not always possible when you are a small brand.”
- Genuine Health acquired Basd.
- Terms for the transaction were not disclosed.
- LeBeau and Meston are joining Genuine Health as General Manager and Vice President for Activation, respectively.
- Basd’s entire five-person team will work out of Genuine Health’s Toronto headquarters.
Photo: via Basd