The Thrasio style e-commerce firm Rainforest based out of Singapore has recently acquired Millenium Enterprises along with its star baby-care brand NatureBond for an undisclosed amount of money. Along with the deal, Jeffery Chua, the founder of NatureBond will be acting as an advisor at Rainforest, while the team at NatureBond will join Rainforest.
Nature bond was founded in 2016, offering baby care products like silicone breast pumps, baby feeders and baby ice cream tethers. It has a customer base of 10 million based in 22 countries around the world. This brand’s growth will be driven by Rainforest with support for pricing, marketing, sourcing, supply chain, cross-border expansion and product development.
Chua states that when NatureBond was formed, it was common logic for them to push past the local Singapore market in order to drive its growth. With NatureBond, Rainforest’s portfolio grows to over 13 brands in the baby care and mother care sectors along with home and kid’s categories. Rainforest is aiming to use another $100 million this year for more acquisitions.
For its first year of operations, Rainforest has commendably reached the annual milestone of $30 million. Rainforest CEO JJ Chai says that the top line of the company was achieved through growth and acquisitions from the portfolio of the brand.
Some of the brands acquired by Rainforest last year include toy organiser brand Lilly’s Love, baby care retailer Easy Baby Travels and home bedding seller Feel at Home. With these acquisitions, Rainforest is looking to further expand its market and venture into new territories.