P&G builds Australian footprint with effervescent vitamins brand acquisition
- 12 April, 2021 12:00
Procter and Gamble (P&G) has fulfilled intentions to gain a bigger footprint in Australia’s personal healthcare market by acquiring local brand, Voost Vitamins, for an undisclosed sum.
The FMCG giant confirmed the purchase this week, stating the leading effervescent supplements brand’s range would rapidly extend its consumer healthcare portfolio into vitamins, minerals and supplements.
“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,” said P&G Personal Health Care president, Paul Game.
“VMS is one of the largest and fastest-growing categories in the over-the-counter healthcare 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 healthcare portfolio.”
Voost is headquartered in Melbourne and was founded in 2013. The company has built a presence across Australia via grocery and pharmacy retailers such as Priceline Pharmacy, Woolworths, Coles and Chemist Warehouse. It also sells through distributors in Singapore, the UK and Hong Kong, providing a range of vitamins developed by an Australian naturopath and manufactured in Germany. The products are also available via a month-by-month subscription offering.
“We launched Voost in 2013 with a mission to disrupt the effervescent category and provide millennial consumers with the highest quality effervescent vitamins and minerals which are affordable yet don't compromise on quality or taste,” said the group’s co-founder and managing director, Thomas Siebel.
“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.
“I am incredibly proud of what my dedicated team has been able to achieve over the past seven years and I have no doubt 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.”
P&G Australia and New Zealand senior VP, Kumar Venkatasubramanian, noted Voost’s connection with the millennials demographic and highlighted its success so far through disruptive packaging and vegan credentials.
“It will be our endeavour to accelerate Voost’s strong growth momentum in Australia, through leveraging P&G’s brand building expertise and go-to-market capabilities that enable us to better serve our consumers,” he said.
According to Data Bridge Market Research figures, the global effervescent tablet market is expected to grow at a CAGR of 8.3 per cent over the next seven years to be worth US$46.93 billion by 2027.
Roy Morgan also estimated over 8.3 million Australians bought vitamins, minerals and supplements in 2018, with women leading the purchasing charge.