After months of ongoing negotiations, Chinese investment company Fosun Group has finalised its acquisition of Israeli beauty company for around $AUD101 million.
The contract was signed by Fosun vice chairman and CEO Liang Xinjun and Gaon Holdings CEO Guy Regev in Jerusalem and witnessed by Israeli officials. The contract will see Fosun Group acquire the holdings of all of Ahava’s shareholders, including Gaon Holdings, Livnat family, Shamrock Israel Growth Fund Advisors, Kibbutz Mitzpe Shalem, and Kibbutz Kalia.
Liang is thrilled with the company’s purchase of "such a famous, strong and successful brand as Ahava under this mutually beneficial agreement." He says Fosun will endeavor to extend the success of the Israeli Dead Sea company into China and surrounding nations.
Chairman of Ahava’s board Dror Barzeli believes the partnership will lead to great growth in the Asian region, commenting: "This is a great acquisition, it's a really strategic acquisition. Definitely there should be a lot of synergy between the new shareholders of Fosun Group and Ahava. That's exactly the perfect partner and the perfect shareholder which really will help us to expand our international activity to China," he tells Shanghai Daily.
Closer to home, director of Skin Founders Matoyla Kollaras is equally enamoured by the news: "We are extremely excited about this acquisition as it reflects the value of Ahava as a brand. Fosun invests strategically and carefully in brands and companies that they believe are of great worth and have potential moving into the future. Fosun has purchased companies such as Club Med Thomas Cook Travel, so we are in good company. They will no doubt inject more capital into Ahava and thus take the brand to new levels world-wide, however the day today dealings will be left with the incredible team at Dead Sea Laboratories."
