Una Brands Acquires Australian Teen Start-up Bellaforte for One Million
Una Brands, an e-commerce aggregator, has acquired teen-owned plastic cup business Bellaforte from 15-year-old Sam Richards, for AUD 1 million.
Una Brands, an e-commerce aggregator, has acquired teen-owned plastic cup business Bellaforte, for AUD 1 million.
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Sam was a tough negotiator. I have dealt with hundreds of business owners but he drove a hard bargain. He was driven and knew what he wanted. He didn’t give up until we met his number.” — Yenti Kushor, Head of Acquisition Una Brands
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.
“If we all make an effort to use reusable & 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.
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Under the guidance of his parents Phil and Michelle Richards, entrepreneurs in their own right, eyed an exit strategy that would allow him to capitalize 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.
“Sam was a tough negotiator. I have dealt with hundreds of business owners but he 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 to the importance of business exit plans. With two more years left of high school, the strategic move allows Sam Richards to prioritize 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.
