JH Partners sells Jurlique stake to Japanese trade buyer

The deal, which is valued at A$300 million ($300 million), sees POLA acquire all of Jurlique's shares, and will include repayment of some of its debts, as the company has been generating net losses for the past three years.

JH, which had control of the board, was accompanied in the capital structure by billionaire James Packer, who purchased a 25% stake for A$25 million in 2002.

Jurlique's president and CEO Sam McKay said: "We are fortunate to have passionate and talented employees, supportive business partners and loyal customers, all of whom have played a significant role in growing Jurlique globally."

The current management team will continue with the business and help work through the merger process with POLA.

Founded in 1985, Jurlique is a major Australian brand which produces its skincare products using plants and botanicals grown on its 153-acre farm in the Adelaide Hills.

The deal is subject to regulatory approvals.

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• Topics
• North Asia
• Exits
• Consumer
• Japan
• Consumer
• Trade sale
• Exit