Zoë Foster Blake along with her co-founders have taken full control of Go-To Skincare after acquiring collapsed beauty company BWX’s stake in the business.
Blake is now the majority shareholder of Go-To Skincare after the share buyback from BWX, which acquired a 50.1 per cent stake in the skincare brand for $89 million in August 2021.
BWX collapsed and entered voluntary administration in April, with KPMG Australia subsequently appointed receiver.
“This transaction returns control of the company to its founder whose deep and intimate understanding of Go-To will be of significant value to the brand’s future direction,” said Gayle Dickerson, turnaround and restructuring services partner at KPMG Australia.
“This is an incredible brand and business, with a deeply passionate team and incredibly loyal and supportive customers,” added Blake. “It is my joy and privilege to give both my full focus and attention.”
The sale of Go-To Skincare’s shares follows the sale of Flora & Fauna and Nourished Life to New Zealand-headquartered Health Post and Flora & Fauna founder Julie Mathers.