Una Brands, e-commerce aggregator headquartered in Singapore, has acquired teen-owned plastic cup business Bellaforte, for AUD 1 million.
Sam Richards, a 15-year-old teenager based in the Gold Coast, founded Bellaforte ( https://mybellaforte.com/ ) two years ago, selling reusable, affordable and recyclable unbreakable drinkware for celebratory events.
“If we all make an effort to use reusable and recyclable products, over time, we can make the world a better place. Life is too short to drink out of crappy cups,” explained Sam Richards.
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. With Una Brand’s experience in transforming start-ups into household names, the opportunity provided a fast and fair way to sell the business at its highest point.
“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 Yenti Kushor, Head of Acquisitions at Una Brands.
The acquisition is a testament of the importance of business exit plans. With two more years left of high school, the strategic move allows Sam 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.
About Una Brands
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. It is founded by eCommerce experts providing a fast and fair way for e-commerce business owners to sell their companies. Una Brands is platform agnostic, acquiring businesses across leading e-commerce platforms including Amazon, Lazada, Shopee, Shopify and more. For more information on Una Brands, visit: https://www.una-brands.com/
SOURCE: Una Brands