Broadlake has sold its majority stake in skin care and self-tanning brand Vita Liberata to US-based Crown Laboratories, with the backing of New York private investment firm Hildred Capital Partners.
“We backed an ambitious team in 2012 and over the last five years have supported them during a period of phenomenal growth,” said Broadlake Founder and CEO Pete Smyth. “Over this time the company has successfully developed its product ranges, brands, channels and international reach. We view Crown as an ideal partner to support the company on the next stage of its growth and development. We wish the Vita Liberata team every success in the future.”
Broadlake’s stake in the company is estimated to be worth US$30 million, according to a report published by the Irish Times.