iNova have today informed their business partners they have sold Dr. LeWinn's and to McPherson’s Limited, with the sale effective as of October 31.
The decision for iNova to sell is based on the fact the two brands fit outside the company's core focus, with iNova wanting to built its reputation in the therapeutic consumer health and prescription category. Dr. LeWinn’s and Revitanail made up the company’s cosmetic skincare portfolio.
Our Cosmetic Skincare portfolio, comprising Dr. LeWinn’s and Revitanail brands, is a portfolio which exists within a highly competitive ‘mass’ category dominated by global players and sits outside our core focus areas. Central to our success is our ability to take a step back and commit to decisions which might be difficult but which align with our strategic intent," says iNova Australian and New Zealand managing director Dan Spira in a statement.
McPherson’s Consumer Products mirrors our commitment to delivering premium products and service and the McPherson’s Consumer Products Management team is excited at the prospect of further developing the Dr. LeWinn’s and Revitanail brands.”
A statement from McPherson adds: "McPherson's is very pleased to announce that iNova will work closely with McPherson's sales, marketing and logistics teams to ensure a smooth transition.”
iNova will continue to grow the business through a combination of both organic growth and acquisitions that fit within their strategic intent.
