Post the acquisition of Cosmetix West in 2019, the potential move is likely to strengthen the presence of Anjac in the North American continent

France's Anjac Health & Beauty, a French family-owned industrial group and the partner of health laboratories, beauty and wellness brands, has reportedly announced the acquisition of Apollo Healthcare Corp for CAD 327 million.

This acquisition move will help Anjac Health & Beauty group to continue their external growth strategy and further reinforce their presence in North America after the acquisition of Cosmetix West in 2019.

Aurélien Chaufour, CEO of Anjac Group, said that the firm is thrilled to extend its technology and expertise to the North American continent with this latest acquisition. The move is expected to offer great opportunities for its international customers, especially when it considers innovation and sturdiness.

Reportedly, the acquisition of Apollo marks the 8th acquisition of the firm after Feltor and Cosmetix West in 2019, and Roval Cosmétiques in 2020, within 5 years.

Based in Ontario, Canada, Apollo is recognized as the manufacturer of one of the top private label personal care products in North America, developing and manufacturing products for major North American retailers and brands.

The major customer base of Apollo exists across North American drug and mass-merchandise retailers, wholesale clubs, and users. As per credible sources, the company's annual turnover is said to surpass around 100 million euros.

According to the reports, Charles and Richard Wachsberg, who cofounded Apollo Healthcare Corp., are said to remain the shareholders and co-CEOs.

Furthermore, the Anjac Group gathers 13 firms representing approximately 21 R&D and manufacturing sites at present and a global turnover that has now almost doubled up compared to the revenue generated 3 years ago. After the current acquisition, the revenue totals to EUR 600 million.

Source Credit - https://www.premiumbeautynews.com/en/anjac-acquires-majority-stake-in,19666