Japanese company Kao Corporation has acquired Australian tanning brand Bondi Sands in a deal said to be valued at $450 million.
Founded in Melbourne in 2012, Bondi Sands has cemented itself as one of the best self-tanning brands on the market, nationally and internationally, with its products found in over 32 countries around the globe.
The brand’s growth has been rapid — not only is its SPF the fastest-growing in both Australia and the UK, but Bondi Sands is on track to make $190 million in revenue for CY23. Products from the homegrown business can be found in over 40,000 stores worldwide, and soon, they’ll be available in over 4,000 Walmart locations in the US.
CEO and co-founder of Bondi Sands, Shaun Wilson, is excited for Kao Corporation to be coming on board, saying it will help the brand grow even further in different markets.
“The integration of Kao’s renowned scientific and technological resources into our operations is an unparalleled opportunity that will significantly contribute to the exponential growth of our brand, empowering us to further expand our product offerings and advance our research and development initiatives,” Wilson said in a statement issued by Kao.
“With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfill our company mission.”
Along with Bondi Sands, Kao Corporation also owns beauty giants Biore, Jergens, Oribe and KMS.
