Seasol announces business sale

by | Dec 19, 2022

Seasol logoSeasol Company Director, Lisa Boyd has announced that they have signed a contract with Yate’s owners, DuluxGroup to sell the business so that Seasol will become a division of Yates.

The sale agreement is still subject to some final steps according to Ms Boyd, including ACCC approval, however, they anticipate the sale will likely be complete by the end of March.

Lisa Boyd said that although Seasol has been her baby for 30 years, she concluded that a new owner could offer Seasol and its employees increased opportunities.

“Seasol has been in my family for 40 years, so this has not been an easy decision. I am just so grateful that my father had the vision to buy a flailing seaweed business – and persevere with it despite losing money for nearly 15 years – because it is now one of the most recognisable brands in the country! We are a small giant that is considered unbeatable in the marketplace, and with Yates and DuluxGroup’s backing, we will be afforded increased opportunity and resources to grow even further,” Ms Boyd said.

“After joining the business part-time in the early ’90s, I ran the business from 2005 to 2015 before putting in a professional Chief Executive Officer, Alick Osborne. In that time the business has grown and we overcame many challenges, but Alick agrees that the next chapter for Seasol is very exciting as part of Yates, which itself has a history going back more than a century. Working together I believe we can achieve a great deal more than Seasol could running solo.’

Lisa Boyd said that the plan is to embrace each company’s uniqueness and leverage their commonality. This will ensure keeping the best of Seasol and the best of Yates, making them a powerful working combination for the long run.

Seasol employees will be retained and the company will enjoy continued investment under Yates who are committed to ensuring ‘Seasol will still be Seasol’, retaining everything that has made the brand special. This means that Seasol will still have the same people at the same locations making and dispatching Seasol, providing customer service, research and development, administrative support and oversight.

“I am very much looking forward to the next chapter for Seasol and its people,” said Ms Boyd.

“May I take the opportunity to thank ABSOLUTELY EVERYBODY – past and present employees, HMA members, front-line staff in nurseries, rural stores, and hardware stores around the country as well as our supply partners and devoted customers (both retail and end-user) for helping to create this iconic brand.”