Mineral Fusion and Andalou Naturals are on the market.

The brands, owned by Australian conglomerate BWX, are heading to market, Doug Hosking, BWX’s president of Americas, confirmed to WWD.

BWX acquired Mineral Fusion in 2017 for $38.4 million. At the moment, Mineral Fusion had about $24 million in sales; later that 12 months, it also acquired Andalou Naturals. At the moment, the deals gave BWX entry into the U.S. market. Its current brand portfolios include Go-To and Sukin, in response to its website.

Per a recent investor presentation, BWX saw revenues fall to 79.7 million Australian dollars in the primary half of fiscal 2023, a drop from 97.6 million Australian dollars the 12 months prior. 

Those brands, nonetheless, are a shiny spot within the portfolio. Industry sources say each has an annual sales volume of $25 million to $35 million in U.S. dollars.

“It’s a pivotal time for each Andalou Naturals and Mineral Fusion to interrupt away from the BWX umbrella and seek exciting acquisition opportunities that may allow the brands to proceed fostering growth within the natural channels while specializing in heightened retail and digital expansion and product innovation,” Hosking said.

Hosking didn’t comment on the figures, but did note, “The brands have been growing. The pandemic modified lots, actually within the natural channel. The brands themselves are known for innovation and really have the very best percentage of natural ingredients against competitors.”

Hosking has tapped KPMG Capital Finance Group to oversee the sale.

After a possible acquisition, Hosking plans to expand the brands’ presences in its current channels — they include Whole Foods and Sprouts as its predominant distributors — in addition to growing its presence in several geographies. “We clearly have some interesting international things happening. We’ve got some strong positions, notably in South Korea,” he said. “But we see substantial opportunities within the U.S. and Canada. Most of our growth will come from outside of the natural channel and constructing our brand presence outside of that.”

Beauty’s M&A market also appears to be gaining steam after a sluggish first half of 2023. As reported by WWD, prestige hair care brand K18 can be said to be exploring a sale.