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ANO is quite a different business. It's a global supplier of...

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    ANO is quite a different business. It's a global supplier of zinc oxide through its existing global distribution network and a market leading formulator of sunscreens and cosmetics. SKN only sell a retail brand. ANO holds all the IP and know-how to compete globally, while SKN has a couple of brands with limited brand equity and doesn't have any product development expertise. They will probably need to buy a white label OEM product from ANO in the near future to stay competitive.

    ANO also sells zinc to Baxter, so it's pretty much a given that SKN is also using ANO's zinc in its sunscreen.

    IMO, ANO is a much stronger business, profitable already and far more realistic growth upside with a motivated board. ANO sells to brands like Estee Lauder, L'Occitane, CyberDerm abroad and strong players like MooGoo, SunSense, Invisible Zinc, Natural Instinct locally.
 
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