ABT has been a distributor of products from Moana Skincare since 2017 and has had exclusive distribution rights in Europe, the Middle East and Africa. ABT now acquires all rights to Moana Skincare and integrates backwards in the value chain. The acquisition gives ABT control over the entire value chain from production to global distribution. ABT will maintain its local presence and knowledge by entering into an agreement with Moana Skincare New Zealand Limited for the distribution of the products in New Zealand and Australia. Through the acquisition, ABT further develops and strengthens its position as a supplier and distributor of certified organic and natural skin care products, and ABT expects to realize synergies through the utilization of its own and new market access.
Moana Skincare currently consists of a portfolio of 19 skin care products, most of which are based on potent extracts from plants found in New Zealand's unspoiled nature. These have been used in traditional medicine by the country's indigenous people, the Maori, for centuries. The cornerstone of Moana Skincare's skin care products is a certified organic red algae found only in the waters around New Zealand. The products have a documented moisturizing effect that lasts for a full 60 hours after application on the skin, which is several times better than the competitors on the market. The series is also organically certified according to one of the world's strictest standards. See the appendix for a more detailed description of today's certified organic and natural skin care products from Moana Skincare.
ABT will pay up to NOK 26.7 million for the rights to Moana Skincare with three initial payments (NZD 500,000, NZD 250,000 and NZD 215 000) of approximately NOK 5.8 million (NZD 965,000) and a turnover-based payment of up to appr. NOK 20.6 million (Euro 1,95 million) based on a turnover for ABT of up to appr. NOK 211 million (Euro 20 million). In addition, ABT will pay a royalty of net sales the first 5 years. The positive financial consequences of the acquisition will be significant in the event of successful revenue growth.
- The acquisition of the rights to Moana Skincare fits very well into our strategy of developing, marketing and selling natural products. Getting quality products like Moana Skincare, which also holds an organic certification, into our portfolio is another part of our goal of offering natural products to the global cosmetics market. The company's board and management also have high expectations that we will develop even more products that will benefit both existing and new customers and distributors. The acquisition also brings opportunities in Moana Skincare's already existing market in the Pacific region, so there is also a good basis for creating further synergies. The acquisition of Moana Skincare's rights is part of ABT's focus on global commercialization and development of natural ingredients and natural skin care products, says Espen Kvale, CEO of ABT.
For further information, please contact CEO Espen Kvale, telephone +47 9162 8092.
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.
This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.