Investors buy into skin care company H2O Plus

By Simon Pitman

- Last updated on GMT

Related tags Goldman sachs Skin

Sea-derived skin care player H2O Plus says that Goldman Sachs Urban
Investment and Cordova, Smart & Williams have made a
significant investment in the company to help it expand.

H20 says the investment will help it achieve predetermined growth goals for both its international and domestic market and help it to surmount the current economic conditions.

Founded in 1989, the company has built a comprehensive distribution network worldwide, which means the products are found in up-market retail outlets worldwide as well as being sold online.

Natural-based personal care Tapping into the huge growth in natural-based personal care products, the skin care line positions itself on the market with its 'water plus' ingredients, which is combined with a minimal use of packaging, to fit in with consumer desires for eco-friendly products.

It is also claimed that the state-of-the-art technology developed to extract and formulate the natural sea derived nutrients helps to give the brand a unique positioning that has proved popular with consumers.

Currently the company has global retail sales of $100m, but the company's is looking to maintain or exceed growth rates which this contributed to a 25 percent increase in total sales for the most recent financial year.

A growing naturals brand "Our attraction to this investment has been on the strength of the H2o Plus brand, combined with the growth in the market for natural products such as the sea-based formulations that are at the core of the company's products," said Kevin Jordan, managing director at Goldman Sachs Urban Investment.

The exact terms of the financial arrangement between the skin care company and the two financial businesses have not been revealed.

Company founder Cindy Melk says she will retain an ownership position within the company and will retain her role as chief creative officer.

The company will also continue to be based in Chicago and for the main part, the executive committee will remain untouched, with president and CEO Bob Seidl retaining his role, along with CFO Scott Oats.

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