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The Silicon Review Asia

AlgoGroup Acquires Beanie Following Fresh Funding

AlgoGroup Acquires Beanie Following Fresh Funding

AlgoGroup acquires and launches three FMCG brands

After a fresh round of funding from Requina Capital, AlgoGroup has announced the acquisition of Beanie. The company has also announced investments in Beanie for Paws and Padie.

AlgoGroup's revenue increased three times after the addition of the three brands and is expected to fuel the company's month-over-month top-line growth.

"Our goal is to light up the consumer products universe by working with and building a coalition of brands which encapsulate our vision. Our mission is, and always will be, to empower brands and the process of brand building. We are eager to bring more brand concepts into the spotlight," said Chris Fung, Executive Director of AlgoGroup.

After the acquisition of Beanie AlgoGroup is able to leverage granular consumption patterns in the pet supplements space to create a spin-off brand 'Beanie for Paws.' The company has also invested on Padie, a biodegradable female hygiene brand.

This move for expansion by AlgoGroup will help it grow its regional sales footprint, with a target to add distribution channels across Southeast Asia, Oceania and North America by the end of 2021.

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