Antioxidant supplement and skincare group Renovatio launches US spin-off Vincent at $16m valuation
Business News Australia by Matt Ogg
Renovatio, a Sydney-headquartered company that processes around one million kilograms of Australian apples annually to extract antioxidants for its health supplements and skincare products, has launched its US spin-off Vincent in partnership with a Chicago investor at a valuation of US$10 million ($15.9 million).
Both companies draw on the research of founder Dr Vincent Candrawinata's PhD at the University of Newcastle investigating how to utilise "activated phenolic" antioxidants from apples in health products.
Building on its Australian footprint including Coles and Woolworths as well as sales in Asia, Renovatio has formed the company Vincent Holdings in a joint partnership with Charlie Stone of marketing agency SRW, which helped launch such successful brands as Simple Mills and Vital Protein.
