Kao Corporation, a Japanese beauty company, acquires Bondi Sands

Popular Australian self tanning company Bondi Sands has been sold to a Japanese beauty giant in a deal reportedly worth over $400 million.

Kao Corporation announced on Tuesday that it had signed a deal to acquire Bondi Sands and its related companies.

The price of the deal has not been confirmed, however it is believed to be worth $450 million.

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The Japanese company is the manufacturer and marketer of several global beauty brands including John Frieda, Jergens and Bioré.

Following the acquisition of Bondi Sands, Kao Corporation said it will now “put an even greater focus” on skin protection.

“In Australia, where sun care awareness is extremely high, Bondi Sands has a leading share of the self tanning market, enabling consumers to achieve a beautiful, healthy tan without the damaging effects of the sun,” the company said in a statement.

“With the acquisition of Bondi Sands, Kao will put an even greater focus on the skin protection category, helping consumers to protect their skin from external environmental factors to establish a firm position globally in the sunscreen and self-tanning markets.”

Now sold in over 32 countries, Bondi Sands was founded in 2012 by Melburnians Blair James and Shaun Wilson.

Alongside tanning foams, moisturisers and mists, Bondi Sands also offers a host of sun care, body care and skin care products.

Wilson said the partnership between the two companies would give Bondi Sands an “unparalleled opportunity” to grow and expand its product lineup.

“Kao’s values and principles match those of Bondi Sands, as we both share an unyielding commitment to delivering innovative products that protect the skin and enhance the lives of our valued customers worldwide,” he said.

“With this partnership, we can now confidently explore untapped markets, reach more customers around the world and continue to fulfil our company mission.”