In 2021, Zoe Foster Blake sold Go-To for $89m, and she's just bought it back for... much less.

In news that surprises absolutely nobody, our favourite businesswomen, beauty expert and (parasocial) best friend Zoë Foster Blake has pulled a monumental deal that has seen her buy back Go-To Skincare.

According to The Australian Financial Review, Foster Blake bought back the stake in her Go-To Skincare brand from BWX Group at a fraction of what she originally sold it for two years ago.

In case you missed it, Zoe sold half of Go-To Skincare in 2021 to beauty and wellness group BWX (the company who own brands including Sukin and Andalou Naturals) for a lazy $89 million.

Watch:The Project: Zoe Foster Blake talks about her role on The Wrong Girl. Post continues below.

While Foster Blake continued as chief creative officer at Go-To and a director of the company, BWX purchased a majority stake (50.1 per cent share), which included the brand's original peachy-coloured line, as well as men's brand 'Bro-To' and children’s product range 'Gro-To'.

In an exclusive interview with Mamamia back in 2021, Foster Blake told us all about the original deal with BWX: 

"We weren't in a position where we needed an investment or anything like that – I just wanted a partner. I just wanted some good heads around the table. And I particularly wanted someone who could help us grow overseas, because the world is littered with brands that tried and failed. And it's a really expensive, hardcore exercise to get into an international market.

"I have felt I've had a baptism of fire... I've just been thrown in the super deep end of business. But I'm really proud of myself in that moment. Because it's really not natural to me. I'm classically a creative and a writer and a visionary of the brand. But I've had to really grow up. And that's probably what I'm most proud of."

However, according to The Australian Financial Review, BWX reportedly collapsed in April this year. It's worth noting that during this time, Go-To continued to trade as normal and was not in administration or receivership.

Now, in a landmark deal, the whole stake of Go-To was bought for $21.8m in a shareholder arrangement, KPMG has told Mamamia.

Foster Blake bought $8 million worth of shares and co-founder Paul Bates purchased $500,000 of shares. This means the business has returned to its original shareholders and founders, and gives Foster Blake the majority stake in Go-To Skincare, with 59.68 per cent, according to the Australian Financial Review.

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The Australian Financial Review referred to the move as "a deal reminiscent of Kerry Packer selling his Nine Network to Alan Bond in 1987 for $1 billion and repurchasing it for $250 million three years later."

Foster Blake debuted on the Young Rich List in 2020. Speaking with Mamamia, the beauty mogul and author said, "Unfortunately, there are numbers put next to your name, and it's very awkward. The thing that is the driver for me is that it means we get to put more into the brand and we get to do more stuff, because we have people who love to use it and enjoy the product.

"To be able to make more products for more people is the key to get more people using skincare and looking after themselves. And that's always been the driver for me. I had no idea, I had no business plan, and I didn't know what I was doing. I just wanted to make a thing that would be simple."

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Feature image: Instagram/@serenawylliemakeup. 

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