Aqua Bio Technology ASA, which recently entered into an agreement for the distribution and sales of ScandiDerma's Čuvget product family, has signed a separate agreement to distribute and sell Moana Skincare of New Zealand products in Europe and the Middle East.
The agreement runs for the next eight years and gives Aqua Bio Technology exclusivity for any new Moana products. It has the option of acquiring up to 30% of Moana's shares and a right of first refusal for the entire company.
Moana Skincare comprises 19 products featuring botanical extracts sourced from New Zealand, including seaweed. The brand is currently distributed in the Pacific region and several European markets.
"These are natural substances with several positive effects, including helping the body maintain a healthy skin and strengthening of the immune system.”
“We have tested Moana’s product on a group of consumers and their response is overwhelming," said Arvid Lindberg, CEO of Aqua Bio Technology. "The products are developed for sensitive skin and targets the most demanding customers and professional users. We see a huge potential for the Moana product line in the EMEA markets."
Meanwhile, Aqua Bio Technology ASA has entered a partnership with Banco Español de Algas (BEA) to investigate algae strains in order to develop beta-glucan-based ingredients with skin care and nutritional supplement applications. The first products developed on the basis of this partnership is expected to be launched early this year.
Aqua Bio Technology will control the manufacturing of the ingredients. BEA will receive royalty payments when ingredients are sold in the market.
“We strongly believe that marine beta-glucans are well suited as ingredients, in skin care products as well as in nutritional supplements," said Lindberg. "These are natural substances with several positive effects, including helping the body maintain a healthy skin and strengthening of the immune system.”