Kao Australia Pty. Limited and Kao USA Inc. agreed to acquire Bondi Sands Australia Pty Ltd for AUD 430 million on August 1, 2023. The acquisition is subject to normal regulatory review and approval.

The deal is Expected to be completed in October. Nomura acted as Sole Financial Advisor to Kao Corporation. Michael Ziegelaar, Cecilia Mehl of Herbert Smith Freehills acted as legal advisor to Bondi Sands.

William Rowe and Simon De Young of Baker McKenzie acted as legal advisor to Kao.