Natural beauty and wellness company BWX (ASX:BWX)
has successfully acquired Flora & Fauna for an estimated total consideration of approximately $27.9 million, representing a multiple of approximately 1.7x actual net revenue for FY21.
Flora & Fauna is an Australian curated online retail platform exclusively focused on vegan, ethical and sustainable products. They will operate alongside BWX’s pureplay e-commerce business, Nourished Life, forming a new business unit within the BWX Group focused on a multi-category portfolio of better-for-you, healthy and sustainable products, 80 per cent of which are not available in mainstream retail.
BWX has a number of natural brands at the forefront of the global natural beauty movement. The acquisition is expected to be EPS accretive in FY22, and strongly EPS accretive by FY24.
Shares in BWX (ASX:BWS)
are trading 2.29 per cent lower at $5.11.