Hong Kong-based CITIC Capital China Partners, the private equity arm of CITIC Capital Holdings Limited, has completed a US $211 million deal to acquire the holding company of New Zealand-based natural beauty brand Trilogy.
Hanxi ZHAO, senior managing director of CITIC Capital, says: “We are delighted to become the new owner of TIL Group. The company owns remarkable brands in the beauty and lifestyle sectors, such as Trilogy, ECOYA, Goodness, Lanocreme, By Nature, as well as CS&Co, a leading distribution platform for beauty products in the New Zealand market. These brands advocate natural beauty and natural lifestyle, which corresponds to the desire of today’s consumers across the globe.”
”Over the coming months we will be working closely with the talented TIL management team, to map out next steps and strategies, and to continue to grow each of these businesses and enhance the footprints of its brands. We are intrigued by the opportunity ahead of us,” says ZHAO.
TIL Group ceo Angela BUGLASS, says: “This is a significant milestone for our company and I am excited by the change in the ownership and our future prospects. Trilogy is the leading brand in the natural facial skincare space, and its natural yet powerful, effective skincare products are loved by consumers globally. ECOYA brings luxurious home fragrance experiences, with its well-known candles crafted from natural waxes. Lanocreme and By Nature follow ‘Made in New Zealand’ philosophy, and bring skincare products with local features to overseas markets.”
“We will continue to grow our home markets in New Zealand and Australia, as well as to expand the global footprints for our brands. We will also continue to strengthen the CS&Co distribution platform. The company has tremendous growth potential, and also provides attractive career development opportunities for our people as we invest to grow. We are looking forward to taking TIL to the next level with the support of our new shareholder,” says BUGLASS.
Commenting on the deal, analyst Ecovia Intelligence, says it believes a major motive for the purchase is expansion in the fast-growing Asian market. “Natural & organic cosmetic sales in Asia increased by 21% last year, compared to single digits in Europe and North America. Asia has high growth potential, considering the market share of total cosmetics remains below 1% in almost all country markets.”
It adds: “Demand for natural & organic cosmetics has taken off in Asia as consumers become more aware of synthetic chemicals in cosmetics & toiletries. Following the trend in Europe and North America, investment is now pouring into the Asian market.”
• Growth of the natural beauty sector in Asian markets will form part of discussion at a series of events being organised by Ecovia Intelligence. Find out more at www.ecoviaint.com.