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- eSense-Lab (ESE) and ANC Enterprises have entered a joint venture to develop a new range of skincare, haircare and hand sanitiser products using terpenes
- Terpenes are a large and diverse class of organic compounds that eSense will provide
- ANC is obliged to make an initial order of 700,000 units which will be split into terpene-infused sanitisers, skincare and hair care products
- eSense will hold a 95 per cent interest in the joint venture however ANC has a 12-month window to increase its holding to 50 per cent
- Company shares have dropped five per cent to trade for 1.9 cents each
eSense-Lab (ESE) has entered a binding joint venture (JV) with ANC Enterprises, a manufacturer and wholesaler of high-quality, Australian-made cosmetic products.
The deal will see ANC manufacture a range of skincare, hair care and hand sanitiser products that contain eSense’s terpene mixes.
ANC is obliged to make an initial order of 700,000 units of eSense’s terpene mixes. Specifically, 500,000 units will be for terpene infused hand sanitisers, 100,000 for skincare and 100,000 for haircare.
eSense will provide specific terpenes that are uniquely developed for each product category and ANC will manufacture the resulting products.
Terpenes are a large and diverse class of organic compounds. They are produced by a variety of plants, particularly conifers, and even by some insects.
ANC has over 10 years’ experience in manufacturing unique products for skincare, sports and nutritional supplements, infant milk powders, bath salts, essential oils and pharmaceuticals.
To support its operations, ANC fully owns a 600 square-metre GMP certified facility which is capable of producing between 16,000 and 20,000 bottles per day. This translates to five million bottles produced annually.
To make the hand sanitisers alcohol-free, further research is continuing into terpenes’ anti-viral qualities to reduce the ethanol content.
“ANC seemed like an obvious partner for eSense to further diversify its product offering. Its passion for natural, ethically made products aligns with our company’s ethos and goals,” eSense CEO Itzik Mizrahi said.
“The addition of eSense’s terpenes allows us to manufacture products with an added layer of potential therapeutic benefits. We are excited to have access to eSense’s terpene technology which will broaden and enhance the products we can make,” ANC CEO Alex Blagojevic said.
The JV will be 95 per cent owned by eSense and the remaining five per cent will be held by ANC. However, ANC has a 12-month option to increase its holding to 50 per cent through a $90,000 payment after one month and this will increase by $10,000 each month thereafter.
Company shares have dropped five per cent to trade for 1.9 cents each at 12:46 pm AEST.
