- Food, skincare and nutraceutical company Live Verdure (LV1) acquires The Beauty Apothecary Australia (Edible Beauty)
- Launched in 2014, Edible Beauty is a naturopathically formulated range that provides pure, active and sustainable skincare and wellness products
- It has a skincare range consisting of face masks, moisturisers and serums, and a wellness range consisting of consumables such as supplements and gut powders
- The purchase was funded by part of the proceeds from a $2.1 million capital raising and the issue of more than 1.66 million Live Verdure shares to Edible Beauty shareholders
- Shares in Live Verdure last traded at 15 cents on October 27
Food, skincare and nutraceutical company Live Verdure (LV1) has acquired The Beauty Apothecary Australia (Edible Beauty).
First announced on August 24, Live Verdure said the acquisition was believed to add to its existing capabilities, expand product categories and develop new products.
Further, the company said the acquisition would extend its presence in the health, wellness and skincare markets, as well as expand its target customer profile.
Launched in 2014, Edible Beauty is a naturopathically formulated range that provides pure, active and sustainable skincare and wellness products.
Its products are 100 per cent PETA-certified vegan and cruelty-free, and contain a high concentration of Australian bio-active native extracts.
Edible Beauty has two product categories, a 25 SKU skincare category and a 5 SKU wellness category.
The skincare range includes face masks, moisturisers, serums, oils and an SPF while the wellness range includes consumable products such as supplements and gut powders.
“The integration of Edible Beauty has already commenced, with an acute focus on driving
increased revenue and reducing COGS to improve the bottom line,” CEO Mark Tucker commented.
The purchase was funded by part of the proceeds from a $2.1 million capital raising and the issue of 1,666,667 Live Verdure shares to Edible Beauty shareholders.
Shares in Live Verdure last traded at 15 cents on October 27.