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Yenti Kushor, Head of Acquisitions Una Brands & Sam Richards, 15 year old founder of Bellaforte KUALA LUMPUR, Oct 11 (Bernama) -- Una Brands, e-commerce aggregator headquartered in Singapore, has acquired teen-owned plastic cup business Bellaforte, for AUD1 million. (AUD1 = RM3.05) Sam Richards, a 15-year-old teenager based in the Gold Coast, founded Bellaforte two years ago, selling reusable, affordable and recyclable unbreakable drinkware for celebratory events. “He was a tough negotiator. I have dealt with hundreds of business owners but Sam drove a hard bargain. He was driven and knew what he wanted. He didn't give up until we met his number,” said Head of Acquisitions at Una Brands, Yenti Kushor in a statement. In 2020, Bellaforte turned over record profits. Covid-19 skyrocketed Belleforte, sold via Amazon Marketplace, to new heights. To keep up with demand, Richards looked to other growth models. Under the guidance of his parents Phil and Michelle Richards, entrepreneurs in their own right, eyed an exit strategy that would allow him to capitalise on this peak success. Una Brands emerged as a solution that would turbocharge Bellaforte with the capital and channels required to enter the next wave of growth. The acquisition is testament of the importance of business exit plans. With two more years left of high school, the strategic move allows Richards to prioritise schooling whilst reaping significant monetary benefits and securing the future of Bellaforte. With his earnings, he'll purchase a new set of headphones, a Samsung watch and a Tesla car, and plans to move to Singapore to pursue his university studies there. Una Brands mission is to shape the future of eCommerce by acquiring great brands and growing them into global, well-loved and enduring household names. More details at https://www.una-brands.com/ -- BERNAMA |
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