France’s Anjac Health & Beauty has closed its acquisition of Apollo Healthcare Corp, a Toronto-based private-label personal care product manufacturer. The previously announced deal implied an equity value for Apollo of about C$327 million. The company was acquired in 2017 by Acasta Enterprises, a Canadian special purpose acquisition corporation, for about C$390 million.
PARIS–(BUSINESS WIRE)–ANJAC Health & Beauty (ANJAC), an industrial group specializing in the formulation, manufacturing and filling of cosmetics, medical devices, drugs, and food supplements, announces a new milestone through the acquisition of APOLLO Healthcare Corp., a Canadian-based company specializing in the development and production of personal care, OTC and wellness products. This transaction confirms ANJAC’s international expansion and strengthens the group’s Health and Beauty offerings to benefit local and international brands and laboratories.
A strong footprint in North America and Europe with Personal Care and Wellness brands to support market growth
Based in Ontario, Canada, APOLLO Healthcare Corp. is one of the largest private label personal care product manufacturers in North America, developing and manufacturing products for major North American retailers and brands. APOLLO is certified FDA, they have the expertise to develop and manufacture OTC and products with sunscreens. APOLLO’s customer base spans across major North American drug and mass merchandise retailers, users and wholesale clubs.
APOLLO Healthcare Corp. was co-founded by brothers Charles and Richard Wachsberg, who will remain on as shareholders and co-CEOs. Both are very pleased to join a dynamic industrial group like ANJAC to collaborate on ambitious development projects.
ANJAC Health & Beauty Group continues to grow with a unique entrepreneurial drive
After Cosmetix West and Feltor in 2019 and Roval Cosmétiques in 2020, this acquisition represents ANJAC’s eighth in 5 years. The ANJAC Group now includes 13 expert companies representing 21 R&D and manufacturing sites and a turnover which has doubled in just three years. Each new acquisition is an opportunity for ANJAC to expand its service offerings in specific fields, while enhancing their complementarities.
“We are very pleased to expand our expertise and technologies throughout the North American continent with this major acquisition. Great opportunities are opening up for our international customers, especially when it comes to industrial robustness and innovation,” explains Aurélien Chaufour, CEO of ANJAC Group.
“Our partnership with ANJAC will leverage Apollo’s broad service capabilities for its global clients. ANJAC’s established and proprietary credentials in personal care and OTC technologies will complement Apollo’s incomparable leadership in driving distinctive, strategic, and first-to-market product innovation to benefit its cherished family of customers.” – Charles Wachsberg, Co-CEO of Apollo.
About the ANJAC Group
ANJAC Health & Beauty is a French family-owned industrial group and a partner to health laboratories and beauty & wellness brands. It creates, develops and manufactures raw materials to finished products. ANJAC is made up of the following 13 experts and complementary companies with 21 R&D and production sites in the fields of health, beauty, personal care and food supplements: Aircos, Apollo, Chemineau, Cosmetix West, Euro Wipes, Feltor, Innovi, LPEV, Pascual Cosmétiques, Roval Cosmétiques, Shadeline and Sicaf. Founded in 2008, the group now has a workforce of over 2,500 and a turnover of €600 million.