Ascendis Health acquires Nimue Skin Technology and Scientific Sports Nutrition
Jun 11th, 08:12
Ascendis Health (Pty) Limited, the health products subsidiary of Coast2Coast Investments, today announced the acquisition of Nimue Skin Technology (Nimue Skin) and Scientific Sports Nutrition (SSN) for R120 million.
The acquisition is the latest in Ascendis’ targeted growth strategy and brings the total investment over the last year to around R700 million with further acquisitions to be finalised in the next month culminating in a listing on the Main Board of the JSE in late 2013. Private and institutional investors are keenly anticipating the arrival of the new company which already employs over 350 people nationally and with an annual revenue of more than R1 billion.
Nimue Skin is a leading South African based, global derma-cosmeceuticals (skincare) company that is recognised for its innovative technology and premium salon brand, while SSN is a fast-growing nutritional supplements brand favoured by bodybuilders and gym enthusiasts which also includes the Supashape brand.
“The Nimue Skin acquisition offers strategic advantages for Ascendis Health as it opens up new market segments in cosmeceuticals that are complementary to other products within the group,” says Dr Karsten Wellner, CEO of Ascendis Health. “SSN is a great fit for our lifestyle consumer brands division and brings with it access to a global market, that is growing in South Africa at over 20% annually”.
Nimue Skin has grown significantly since its launch in 2000 and its products can be found in approximately 2000 beauty salons around the world. The company has made significant progress in major international markets such as Dubai, the UK, Sweden, New Zealand, Switzerland and Germany and has distributors in 24 countries worldwide.
SSN, currently the third largest sports nutrition company in SA, was launched in 2008 by two dedicated and passionate South African sports enthusiasts and is the fastest growing local brand.
The SSN brand is listed at most major retailers and is also expanding globally with distribution agreements in India and Europe providing significant growth opportunities internationally.
“The addition of SSN to the Group adds another exciting health and lifestyle consumer brand to the Ascendis group,” says Wellner. “Ascendis Health will leverage SSN’s sales and marketing strategies and their key associations and relationships with industry leaders to grow market share in this competitive sector, both locally and abroad”.
This sentiment is echoed by Mario van Biljon, co-founder of SSN: “Now that Ascendis Health is on board we can begin to unlock the enormous potential in European markets for our great South African brand”.
The owner-managers of both the acquired businesses have joined Ascendis’ management team and have invested some of their sales proceeds back into the group, in line with its partnership model. “Our investment model, based on the deep value investing principles espoused by Warren Buffett, hinges on the on-going support of management,” concludes Wellner.
“By bringing the management of Nimue Skin and SSN into the Ascendis fold we ensure continuity at the respective businesses and retain the entrepreneurial flair and ambition that made these businesses what they are today”.
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