Procter & Gamble has announced the approval and closing of its acquisition of VOOST Vitamins, said to be Australia’s leading effervescent supplements brand.
Reportedly, this acquisition will enable P&G to strengthen its personal healthcare footprint in Australia, expanding the company’s consumer health care offerings to now include a broader range of vitamins, minerals and supplements (VMS).
“This move enables us to expand our portfolio in Australia, beyond Vicks and Metamucil, by adding a broad range of consumer-preferred VMS that will complement our current offerings,” says President P&G Personal Health Care, Paul Gama.
“VMS is one of the largest and fastest-growing categories in the over-the-counter health care industry and remains an important segment for P&G. We are pleased to continue investing in our business and advancing our VMS offerings by adding another superior brand to our strong health care portfolio.”
Senior Vice President P&G Australia and New Zealand, Kumar Venkatasubramanian says that this acquisition “brings to P&G an innovative range of consumer-preferred VMS in the effervescent form” that, through “disruptive packaging and sough-after attributes such as great taste, sugar free and preservative free”, are particularly appealing to millennials.
“It will be our endeavour to accelerate VOOST’s strong growth momentum in Australia, through leveraging P&G’s brand building expertise and Go-To-Market capabilities that enable us to better serve our consumers,” says Mr Venkatasubramania.
Headquartered in Melbourne, VOOST Vitamins has a strong presence in Australia in leading grocery and pharmacy retailers and an international presence via distributors in Singapore, UK, and Hong Kong.
“We launched VOOST in 2013, with a mission to disrupt the effervescent category and provide millennial consumers with the highest quality effervescent vitamins and minerals, which are affordable yet don’t compromise on quality or taste,” says VOOST Vitamins Co-founder and Managing Director Thomas Siebel.
“With a focus on premium ingredients, great taste and a beautiful contemporary design, we have developed one of the largest selections of effervescent formulations in the world and are now the leading effervescent supplement brand in Australia with a strong customer base across both domestic and international markets,” continues Mr Siebel.
“I am incredibly proud of what my dedicated team has been able to achieve over the past seven years and I have no doubt that the strength and global leadership of P&G will elevate the brand to a new level and enable VOOST to reach further markets and experience strong, sustained growth in the years to come.”