Procter & Gamble has added another innovative natural brand to its portfolio, making it the second one in three months. The acquisition of New Zealand skincare company Snowberry comes quickly on the heels of the Native Deodorant transaction.
WHO: Persian-born New Zealander Soraya Hendesi founded Snowberry in 2007 out of necessity. She was unhappy with the compromises of conventional skincare and felt “natural” products were not scientifically advanced. She set out to create skincare with no compromises to functionality, safety, or the inclusion of ingredients in their optimum quantities. Snowberry is the first New Zealand skincare company to achieve carboNZeroCert™ certification for each of its products, and may be the first to do so globally.
WHY: For Snowberry, a big part of the motivation to sell was to give the company access to expansion capital. P&G and other CPG companies have been acquiring natural and innovative brands to address the changing preferences of a new generation of shoppers.
IN THEIR OWN WORDS: “Snowberry brings to our collection of skincare brands unique formulas rooted in the intersection of nature and science,” P&G spokeswoman Kelly Vanasse told the Cincinnati Business Courier. “It is a beautiful brand and story with outstanding performance, which makes it a great fit for P&G.”
“P&G has extraordinary R&D and marketing resources,” Greg Billington, general manager of Snowberry New Zealand, was quoted as saying. “Snowberry management considers it a privilege and a hugely exciting opportunity to have access to those resources, to continue to develop the anti-aging solutions that we know our customers want.”
DETAILS:
