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Trilogy buys stake in Chilean rosehip firm

NZ NewswireNZ Newswire 25/05/2016 Jonathan Underhill

Skincare and home fragrance company Trilogy International says it has acquired 25 per cent of Chilean rosehip producer Forestal Casino.

It says it will pay $US8 million ($NZ11.86 million) in cash and shares for the stake which gives it certainty of supply for an oil used in skincare products.

Trilogy will pay $US2m in cash and issue 2.6 million new shares to Forestal Casino, valued at $US6m, the Auckland-based company said.

The shares are subject to a two-year lock-up agreement.

As part of the acquisition Forestal Casino will grant Trilogy a long-term supply agreement for rosehip oil, a core ingredient in a number of Trilogy skincare products, it said.

"Initiatives like this investment, which vertically integrate the supply chain, are an important part of the strategy to reinforce Trilogy as a global leader in natural skincare," chief executive Angela Buglass said.

Trilogy was last week asked by the NZX to explain a jump in its stock price. Its shares last traded at $4.05 and have soared 305 per cent in the past 12 months.

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