Vitality Brands, best known for Australia’s biggest-selling sunscreen under the Cancer Council brand, has agreed to terms to acquire New Zealand natural beauty player Essano from Pencarrow Private Equity.WHO: Established in 2000, Essano is crafted on the belief that everyone should be able to have gorgeous products and amazing results without harm to themselves, the planet, or our furry friends. Essano is 100% cruelty-free all the way to the final production in its New Zealand–based factory. Essano's parent company has signed the New Zealand Plastic Packaging Declaration, which means by 2025, all its packaging will be 100% reusable, recyclable, or compostable. Essano has a certified organic laboratory in New Zealand and supplies its products through pharmacy and grocery channels in Australia and New Zealand, Hong Kong, and the United States.Founded in 1993, Pencarrow is one of the most experienced private equity managers in New Zealand. Since its founding, the firm has invested over $600 million of equity capital in mid-sized New Zealand businesses. Vitality was founded 20 years ago with the purpose of building a company of both sustainable financial value and positive social worth. The Melbourne-headquartered business is known for its brands Cancer Council Sunscreen, Tribe Skincare, and Epzen. The group is present in all major FMCG outlets in Australia as well as retailers in 15 countries.WHY: The acquisition will position Vitality Brands as a major independent natural beauty and wellness player in the Australasia and New Zealand markets.