Red Seal owners Rolf and Rosi Hilke
Leading healthcare company Ebos has acquired another New Zealand owned and operated brand, Red Seal, for $80 million, with the sale expected to complete on November 30. According to the sale and purchase agreement, the Red Seal business will be purchased by Endeavour Consumer Health Limited, a fully-owned subsidiary of Ebos Group.
Founded in 1923, Red Seal specialises in natural health products and is best-known for its supplements, herbal teas and toothpastes, as well as soaps, molasses and manuka honey. Over the years, the brand has built a strong reputation in New Zealand, Australia and overseas, targeting key Asian export markets.
Looking at keeping the business in New Zealand, Red Seal found an ideal buyer in Ebos, a major player in the healthcare arena, with more than 2,400 employees in 42 locations across Australasia. For its part, Ebos saw a potential for growth, with an increased presence in the grocery and pharmacy sectors.
“We think the acquisition puts us in a very strong position thanks to Red Seal’s profile in New Zealand and Australia, and there are opportunities for expansion in China and the wider Asian markets,” said Andrew Vidler, general manager retail services, Ebos Group. “We think the combined strengths of the Ebos and Red Seal will take our ability to capitalise to the next level.”
According to Vidler, Ebos is naturally committed to continuing to support and promote the Red Seal brand.
“We are retaining all Red Seal staff as part of this acquisition. Our plan is to further grow the business, so our people are obviously a critical component of that growth,” he said. Along with Ebos CEO Patrick Davies, Vidler will be part of the new management team, whilst Red Seal’s current senior management team is willing to help with a smooth transition of ownership.