Company Director, Lisa Boyd, recently announced that Seasol had signed a contract with Yates’ owners, DuluxGroup, to sell the business. Seasol will become a division of Yates.
The sale agreement is still subject to final steps, including ACCC approval but it is anticipated that the sale will be complete by the end of March.
Lisa said, “When I look at my life stage and my competing interests… and when I look at the business life stage (one of an emerging Medium Enterprise), I came to the conclusion that a new owner could offer Seasol and its employees increased opportunity.
“Seasol has been in my family for 40 years, so this has not been an easy decision. I’m just so grateful that my father had the vision to buy a flailing seaweed business, and persevere with it despite losing money for nearly 15 years because it is now one of the most recognisable brands in the country!
“We’re a small giant who is considered unbeatable in the marketplace, and with
With Yates and DuluxGroup’s backing, we will be afforded increased opportunities and resources to grow even further.
“Working together, I believe we can achieve a great deal more than Seasol could be running solo. The plan is to embrace each company’s uniqueness and leverage their commonality, keeping the best of Seasol and the best of Yates, making them a powerful working combination for the long run.
“Our employees will be retained and the company will enjoy continued investment.
“Yates’ commitment is that ‘Seasol will still be Seasol’, retaining everything that has made this brand so special.”