Synergy CHC forays into cosmetics sector with Perfekt Beauty acquisition

Consumer healthcare firm Synergy CHC has signed an asset purchase agreement with CDG Holdings to acquire 100% stake in skincare and cosmetics products developer Perfekt Beauty.

CDG Holdings owned 92.3% of the issued and outstanding equity interests of the beauty company.

Under the agreement, Synergy bought the complete assets of Perfekt Beauty and also assumed certain of its liabilities.

The footprint of the beauty company’s Per-fékt brand in more than a thousand stores across retailers such as Sephora and Ulta is expected to support the growth of Synergy’s other brands.

Synergy CHC CEO Jack Ross said: “This acquisition not only marks Synergy’s expansion of its retail presence in North America and globally, but also the next step into the beauty space.

“The growth of our portfolio continues, and with that the potential to leverage our existing digital innovations and distribution relationships.”

In addition to Per-fékt Beauty, Synergy CHC’s portfolio of consumer healthcare brands include brain health supplement FOCUSfactor, herbal detox tea Flat Tummy Tea and anti-aging skincare range Hand MD, among others.

Specifically designed for the hands, Hand MD addresses aging indications such as fine lines and wrinkles, skin hydration, hyper-pigmentation and radiance.

The firm sells its products through an online marketing platform called Synergy Effect that operates on its ROI algorithm.