Australian business VitaminHaus, along with its consumer brand of Voost effervescent vitamins, has been acquired by Procter & Gamble for an undisclosed sum.
WHO: Founded in 2013 by Thomas Siebel and headquartered in Melbourne, Australia, Voost tackled the effervescent vitamin sector that, at the time, was dominated by Berocca. The brand consists of a range of vitamins developed by an Australian naturopath and manufactured in Germany. The company has built a presence across Australia via grocery and pharmacy retailers and also sells through distributors in Singapore, the UK, and Hong Kong. The products are also available via monthly subscription.
WHY: For P&G, the acquisition means seizing an opportunity in the growing vitamins, minerals, and supplements industry, one of the fastest-growing parts of the over-the-counter health sector, while building its footprint in the Australian market.
IN THEIR OWN WORDS: “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 have 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.
“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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