Australian maker of effervescent supplements VOOST has been acquired by The Procter & Gamble Company (NYSE:PG) today.
P&G intends to expand the company's range of vitamins, minerals and supplements once VOOST joins its suite of brand, including Oral-B, Tampax, Braun, Head & Shoulders, Olay and Old Spice.
"This move enables us to expand our portfolio in Australia, beyond Vicks and Metamucil, by adding a broad range of consumer-preferred vitamins, minerals, and supplements (VMS) that will complement our current offerings," P&G personal health care president Paul Gama said.
"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."
Co-founded in Melbourne in 2013 by the former managing director of Sakata rice crackers Tom Siebel and the current ANZ boss of German coffee pod maker Kruger, Jason Scher, VOOST has found popularity with its wide range of dissolvable vitamin tablets.
The company boasts a large variety of effervescent vitamin and mineral tablets that aim to boost performance, energy and general health.
Co-founder Siebel says the sale to P&G validates his goal of disrupting the effervescent category.
"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," says 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."Never miss a news update, subscribe here. Follow us on LinkedIn, Instagram and Twitter.
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