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After seven years, Australian effervescent vitamin brand Voost will change ownership. The acquisition was made by Procter & Gamble (P&G), according to information provided by Smartcompany. The value of the deal was not disclosed.
Procter & Gamble in the health segment
Australian company VitaminHaus, along with its effervescent dietary supplement brand Voost, has been acquired by the world’s largest consumer goods manufacturer, Procter & Gamble, reports Smartcompany. The value of the deal is not known.
The Voost brand was founded in 2013 and developed products containing vitamins and minerals in the form of effervescent tablets. According to the company’s website, Voost dietary supplements, in addition to Australia, are currently exported to the UK, South Africa, Hong Kong, Fiji, Papua New Guinea and the Philippines.
This is not Procter & Gamble’s first entry into the pharmaceutical sector. In 2011, P&G together with Teva formed a joint venture called PGT Healthcare. It was dissolved in July 2018. In late 2018, the company also announced the acquisition of Merck KGaA‘s OTC products division.
Good year for vitamins and minerals
In 2020, the vitamins and minerals market was driven by increased purchases of immune support products due to the coronavirus pandemic. It is also important to keep in mind the rising awareness of preventive care and healthy living in the general public, which are also driving this segment of the dietary supplements market to grow.