Clarendon Lawyers recently advised the founders of Vitaminhaus Pty Ltd (VÖOST) on the successful sale of VÖOST to Procter & Gamble (NYSE:PG) (P&G), which completed on 7 April 2021.
Co-founded in 2013 by Tom Siebel, Zack Bozinovski and Jason Scher, VÖOST is now an industry leader in the effervescent vitamin category in Australia, and with a growing presence in Singapore, Hong Kong and the United Kingdom.
P&G, listed on the New York stock exchange, is an FMCG giant with a market capitalisation of US$335 billion and a suite of brands that includes Braun, Head & Shoulders, Olay, Old Spice and Oral-B. The acquisition of VÖOST adds to P&G’s Australian portfolio, which also includes Vicks Vaporub and Metamucil.
The Clarendons team was led by Managing Director, Tony Symons. Tony congratulated the founders on the successful sale noting that “this is a terrific result for the founders of VÖOST after having the courage to disrupt the effervescent supplements category seven years ago. They took the fast-growing category by storm with a unique brand experience and product range, which culminated in a sale to a global heavyweight consumer brands business”.
“We regularly help founders to navigate their sale processes and we were proud to support the VÖOST founders through their exit process and ultimate sale to US-giant, P&G. We look forward to watching the VÖOST brand continuing to grow and prosper under P&G’s custodianship.”
“This is one of a number of cross-border transactions that we have been involved in this year and is further evidence of the appeal of Australian brands and assets to international buyers.”
P&G Personal Health Care president, Paul Gama commented “We are excited to welcome VÖOST vitamins, Australia’s leading effervescent supplement brand, into the Procter & Gamble family. 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.”
“We are pleased to continue investing in our business and advancing our VMS offering by adding another superior brand to our strong health care portfolio.”
Co-founder, Tom Siebel said, “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 VÖOST to reach further markets and experience strong, sustained growth in the years to come.”
VÖOST was also advised by PwC, Steven Ivak and William Hood and Company. P&G was advised by Jones Day.