In June, Retail Beauty disclosed that Crescent Capital Partners, the prominent Australian private equity firm, had placed Nude By Nature on the market after a decade of exclusive ownership.
The brand has now been successfully sold, thanks to Dennis Bastas injecting a substantial $60 million into the acquisition of not one, but two standout beauty brands – Nude By Nature and Makeup Cartel.
Renowned for his wealth amassed in the pharmaceutical sector through Arrotex Pharmaceuticals, Bastas has set his sights on the dynamic consumer health and beauty sector.
This strategic manoeuvre not only broadens Bastas’ footprint in the Australian beauty scene but also cements his status as a pivotal player in the industry.
This latest endeavour complements his already impressive business repertoire which includes MCoBeauty, founded by the visionary Shelley Sullivan, all under the umbrella of his powerhouse company DBG Health.
The billionaire has orchestrated the creation of VidaCorp, a consumer vertical strategically nested within his business empire.
VidaCorp not only houses the freshly acquired brands, Nude By Nature and Makeup Cartel, but also MCoBeauty, which made headlines last September by conquering the competitive US market as a pioneer in its domain, as reported by Retail Beauty, but also MyAura, Brutal Truth, and SkinB5.
Bastas plans to launch MCoBeauty into 2,500 Kroger stores across the US in March, according to the AFR.
Makeup Cartel, founded by Evette Hess in 2013, encapsulates four subsidiary gems – PONi Cosmetics, esmi Skin Minerals, Lip Heroes, and Sun Skills. Hess, the creative force behind it all, remains at the helm.
Nude By Nature is the fifth-largest seller in Australian pharmacies, after global titans Maybelline, Revlon, L’Oréal, and Rimmel.
With sales projections surpassing $41 million this fiscal year and an expected EBITDA (earnings before interest, taxes, depreciation, and amortisation) approaching $6 million, Nude By Nature’s growth trajectory includes a foray into skincare products, with plans for baby and teen lines on the horizon.
Nude By Nature Chief Executive Officer, Mark Thompson, said the decision was made “with the long-term success and growth of our business in mind”.
“VidaCorp’s commitment to innovation, excellence, and customer satisfaction aligns seamlessly with our own values, making them the ideal partner to propel us into the next chapter of our journey,” he said.
“Following successful completion of the transaction, VidaCorp plans to integrate Nude by Nature’s existing practices into its own capabilities to increase its product offerings and further strengthen its long-term relationships, mutual trust with key stakeholders and a strong focus on customer care central to both businesses. It will add to a growing portfolio of beauty brands, combining with MCo Beauty and the newly acquired Makeup Cartel.”
Thomspon said over the coming weeks that “we will be working with VidaCorp on an integration process and until then, it will be business as usual”.
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