Sector Deals of the Week—Procter & Gamble Continues on the M&A Trail with Snowberry Acquisition

snowberry instant deep cleanser 50m 1.7oz

Three montSnowberry Logohs following the acquisition of Native, Procter & Gamble (P&G) acquired Snowberry, a New Zealand-based, prestige skin care brand, underlining its return to the M&A arena. Founded in 2007, Snowberry offers carboNZero certified, anti-aging skin care products, including treatments, serums, and moisturizers utilizing natural ingredients that are free of petrochemicals, sulfates, artificial coloring, silicones, glycols and PG Logoparabens. The company currently maintains distribution in New Zealand, China, and the U.S. The transaction allows Snowberry to leverage P&G’s marketing infrastructure, R&D platform and multinational distribution network to increase product innovation and expand its marketing footprint.

The acquisition represents P&G’s renewed interest in the prestige beauty category alongside the strong growth of its SK-II brand but less than two years following the sale of many of its specialty beauty brands to Coty in 2016. The deal also highlights P&G’s focus on the natural category, closely following the acquisition of Native, a fast-growing direct-to-consumer natural deodorant brand, in November. Intrepid served as the exclusive financial advisor to Native. Both Snowberry and Native join a list of recent M&A activity in the natural beauty and personal care sector, including the acquisitions of Schmidt’s, MyChelle Dermaceuticals, Andalou Naturals, Mineral Fusion and Indie Lee, among others.

Founder Soraya Hendesi and her existing team will continue to lead Snowberry from its New Zealand headquarters.