PARIS — Kao Corp. has signed an agreement to acquire Australian sun care brand Bondi Sands, as the beauty category heats up.
The Japanese beauty giant and owner of brands including John Frieda, Jergens, Curéal and Bioré is making the acquisition of Bondi Sands Australia Pty. Ltd., and related Bondi Sands companies, through Kao’s wholly owned subsidiaries Kao Australia Pty. Ltd. and Kao USA Inc.
Financial terms of the acquisition were not disclosed.
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The deal dovetails with Kao’s strategy to make skin care one of its key growth drivers in the midterm.
Sun care is a beauty category in high demand — and growing swiftly — today, due in part to global warming.
The sun care market is estimated to reach $14.54 billion in 2023, up 8.8 percent on-year, and is projected to grow 7.4 percent between 2023 and 2024, then 7.3 percent between 2024 and 2025, according to Euromonitor International.
“Growing consumer awareness of skin cancer and other sun-related health problems is expected to drive value and volume growth for all sun care categories in the forecast period,” said Brando Coleman, research analyst at Euromonitor.
Bondi Sands, founded in 2012 in Melbourne, Australia, is a specialist in self-tanning, sun care, skin care and body products, which are sold in more than 32 countries, including Australia, the U.K. and U.S.
“Their high-quality, distinctive formulations combined with sustainable practices have gained a loyal consumer base,” Kao said in a statement released Tuesday. “In Australia, where sun care awareness is extremely high, Bondi Sands has a leading share of the self tanning-market, enabling consumers to achieve a beautiful, healthy tan without the damaging effects of the sun.”
Bondi Sands said its mission is to create easy-to-use products that give a natural-looking tan at an affordable price. Alongside sun care, its range includes skin care for after-sun use.
The Bondi Sands acquisition will give Kao a bigger focus on the skin protection segment.
“By leveraging Kao’s vast UV care technologies in the Japanese market and self-tanning technologies in the U.S. market, Kao will expand its global business portfolio an further accelerate its business growth,” the company said.
“Bondi Sands is an incredible brand and a perfect fit for the Kao Consumer Care Business portfolio,” said Karen Frank, president of Consumer Care Business, Americas and EMEA, in the statement.
“Quality, innovation, environmental responsibility, accessibility and community are at the forefront of everything [the brand] does, ideally aligning Bondi Sands to our own brand values and corporate philosophy, which we call the ‘Kao Way,’” Frank said.
“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,” she continued.
There are synergies between the two groups.
“Kao’s values and principles match those of Bondi Sands, as we both share an unyielding commitment to delivering innovative products that protect the skin and enhance the lives of our valued customers worldwide,” said Shaun Wilson, cofounder, chief executive officer of Bondi Sands.
“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,” he said. “With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfill our company mission.”