Japanese skincare giant Pola Orbis has completed its acquisition of Australian rival Jurlique in a deal worth AU$300m (US$302m, €230m, £194m).
The acquisition is seen as a way for Pola Orbis to get a foothold in the Australian and New Zealand markets, where Jurlique's organic products have a strong presence.
In a statement, a spokesperson for Pola said: "This deal will accelerate our overseas expansion plan and will significantly contribute to achieving our long-term vision.
"Through this acquisition, we'll be able to strengthen our business platform and distribution capabilities globally."
As part of the deal, Pola Orbis will take control of all of Jurlique's nine consolidated subsidiaries in five countries.
Jurlique's existing management team will continue with the company.
Jurlique's president & CEO, Sam McKay said: "The transaction represents a significant and exciting milestone for Jurlique.
"Our brand is well positioned with a strong presence and compelling momentum in key strategic markets, with a focus on Asia, the Americas and our home market Australia. I look forward to working closely with Pola to pursue opportunities to further accelerate growth on a global scale; both in terms of greater penetration of existing multi-channel distribution and geographic expansion."
Founded in 1985, Jurlique products use plants and botanicals grown on a company owned, 153 acre biodynamic farm in the Adelaide Hills.