Japanese beauty giant Kao Corporation has acquired Australia's Bondi Sands for an estimated US$450m.
The deal sees the owner of John Frieda and Molton Brown expand into self-tanning.
Founded in 2012, Bondi Sands is now available in 32 markets and has a strong presence in Australia, the UK and US.
“The addition of Bondi Sands to our consumer family of brands will greatly advance our mission to be the preeminent leader in the global skin protection business and continue our journey of offering diverse products that promote a ‘kirei’ lifestyle that is healthy, inclusive and sustainable for all," said Karen Frank, President, Consumer Care Business, Americas and EMEA.
The move is part of Kao's wider plans to boost its presence outside of Asia, which includes streamlining its portfolio and internal restructuring.
Kao also expanded Bioré, a popular sunscreen line in Japan, into Europe in April.
Bondi Sands' co-founder Shaun Wilson said the move will grow the company's R&D initiatives and product offering.
"With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission," he continued.
