New acquisition for Ascendis Health
Ascendis Health has acquired Nimue Skin Technology and Scientific Sports Nutrition (SSN) for R120 million, bringing its total investments to R700 million over the past year. It plans to acquire more companies and list on the JSE by late 2013. The company already employs over 350 people nationally and has an annual revenue of more than R1 billion.
"The Nimue acquisition offers strategic advantages for the company, 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 market that is growing in South Africa at over 20% annually. The company will leverage its sales and marketing strategies and its key associations and relationships with industry leaders to grow market share in this competitive sector, both locally and abroad."
Nimue Skin is a South African based global cosmeceuticals (skincare) company that is recognised for its innovative technology and premium salon brand. It 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.
Two dedicated and passionate South African sports enthusiasts launched SSN, currently the third largest sports nutrition company in South Africa, in 2008. It is a brand favoured by bodybuilders and gym enthusiasts, including the Supashape brand. It is listed at most major retailers and is also expanding globally, with distribution agreements in India and Europe providing significant growth opportunities internationally.
Mario van Biljon, co-founder of SSN, adds, "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.
"By bringing the management into the group, we ensure continuity at the respective businesses and retain the entrepreneurial flair and ambition that made these businesses what they are today," concludes Wellner.
For more information, go to www.ascendis.co.za and www.c2c.co.za.
