Japan’s cosmetics maker Pola Orbis to buy Australia’s Jurlique for $300 mn
30 Nov 2011
Pola Orbis Holdings Inc, Japan's fourth-largest cosmetics maker by sales, today said that it will acquire Australian organic skin care product maker Jurlique International from San Francisco-based private equity fund JH Partners, for about A$300 million ($300 million).
Pola said the purchase price includes the repayment of some of Jurlique's debts. Australian billionaire James Packer, who holds a minority interest in Jurlique, agreed to tender his shares to the offer.
Founded in 1985, Jurlique is a vertically integrated leader in the natural skincare market. The company owns a 153-acre biodynamic farm and grows plants and botanicals that are used in its brands along with other globally-sourced, natural ingredients.
Jurlique sells its products through concept stores, department stores, specialty retailers, spas, travel retail, and e-commerce in Australia, Asia, the US and Europe.
Tokyo stock exchange listed Pola, said the acquisition will strengthen its presence in Australia New Zealand and Asia.
"Pola anticipates significant synergies to be generated from utilizing Pola's research and development capabilities, as well as marketing knowledge, together with Jurlique's premium natural organic brand concept and its natural ingredients product lineup," the Japanese company said Wednesday.
The acquisition comes after Pola Orbis purchased US-based H2O Plus Holdings, a natural skincare product maker.
Pola Orbis said that it is expanding abroad with an aim to boost its sales to 250 billion yen ($3.2 billion) by 2020.
