Oxygen Plus (O+), the pioneer and leader in portable canisters of recreational oxygen, today announced it completed the acquisition of California-based recreational oxygen company, O2 Naked Air. The agreement corresponded to the growing trend for the nascent category, valued at $4.5 million in value terms in 2020 and is forecast to grow at a CAGR of 7.02% in value terms to reach $6.7 million by 20261.
Oxygen Plus initiated discussions with O2 Naked Air’s Founder, Kelli Lazalier, in April of 2020 at the peak of the COVID-19 outbreak in the United States. The flood of awareness around the need and benefits of oxygen during the pandemic created a consumer demand for personal oxygen that brought the two competitors together, revealing the mutual fit that ultimately translated to this recent acquisition.
Oxygen Plus, with its established sales and marketing capabilities and a supply chain prepared for anticipated growth, sold O2 Naked Air’s small-sized oxygen canister during the COVID-19 surge along with its own oxygen products. O2 Naked Air – with traction in a niche market that included online sports enthusiasts and athletes – recognized the opportunity to collaborate and sell oxygen through Oxygen Plus.
“I first partnered with Oxygen Plus because I knew we shared similar values about how recreational oxygen should be manufactured, marketed, and sold,” said Lazalier. “After Oxygen Plus stepped up to the plate – actually delivering the oxygen to people who wanted to breathe easier during the pandemic – I was emboldened to move on to new endeavors, knowing our work in this category would not be in vain.”
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“The recreational oxygen category has definite staying power – but the business behind it isn’t for the faint of heart,” said Lauren Carlstrom, COO of Oxygen Plus. “Coming on the scene in 2011, O2 Naked Air was one of our first competitors, and unlike others who have come and gone, the brand virtuously navigated our category’s entrepreneurial challenges. We’re grateful to welcome new consumers and retailers in sport, travel, and hospitality to O+.”
Oxygen Plus, which was recently recognized by aerosol packaging industry magazine, Spray Technology and Marketing, for its oxygen donation to help India’s COVID-19 surge, will integrate O2 Naked Air’s assets in order to fulfill its mission of making oxygen more affordable and accessible to people worldwide.
1 Research and Markets, 2021 Report. Global Medical Oxygen Market, By Form, Purity, Delivery Mode and Modality Forecast & Opportunities, 2026. https://www.researchandmarkets.com/reports/5311294/global-medical-oxygen-market-by-form-liquid. Retrieved May 21, 2021.
Source: Biospace
