Blue Sky pumps $2m into Australian skincare firm

The new funding - provided by the private equity arm of Blue Sky - will be used for working capital and to boost staff numbers as  Milk & Co. looks to become a major global brand for natural and organic skincare products.

Milk & Co was established in 2008 as a line of skincare products that could cope with extreme weather conditions in Australia and the effects of pool chlorine. Klim, who won gold, silver and bronze medals in Olympic competitions in Atlanta, Sydney and Athens, went on to launch "Milk Baby" - a range especially for babies - with his wife Lindy the following year.

The company currently has confirmed or pending overseas distribution deals in 15 countries, including with UK chemist Boots, Sephora in Singapore and Boshiwa in China.

Alex McNab, private equity investment director, led the deal on behalf of Blue Sky.

Last December, US private equity firm J.H. Partners sold its stake in another Australian skincare brand - Jurlique - to Japanese cosmetics maker POLA Orbis Holdings. Jurlique is a major organic skincare brand which produces its products using plants and botanicals grown on its 153-acre farm in Australia's Adelaide Hills.

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• Topics
• Australasia
• Consumer
• Expansion
• Growth capital
• Australia
• Consumer