The former listed marketing company New Image Group has snapped up the beauty products company Nutrimetics, from the New York listed Tupperware Brands, for an undisclosed sum.
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The privately owned New Image Group, which recorded revenue of more than US$430 million in 2021, said Nutrimetics was a natural fit to its focus on health and nutrition.
New Image Group, which has two subsidiaries - New Image International and NIG Nutritionals - said it was currently on a global expansion drive.
New Image International chief executive Rod Taylor said the company saw an opportunity as Tupperware (known for its line of plastic containers) decided to divest its beauty units.
"After we had completed extensive due diligence, we were delighted our offer for the whole business was accepted.
"We have plans to bring in new business systems to Nutrimetics and to increase the sales and marketing support for our independent consultants and grow revenue," Taylor said.
New Image founder and chair Graeme Clegg said Nutrimetics is "an iconic brand".
He said New Image's international arm was expanding, with many people unaware of its push.
"We've got the resources, we've got the infrastructure in place to be able to look at organic growth which was remarkable. We're looking at 20 to 30 percent a year growth for the last 30 years so that is substantial.
"In the future, as part of New Image Group, [Nutrimetics] will be available to so many more people globally through our independent consultants."