Farmax

What Farmax does

Farmax is a Brazilian manufacturer of personal care, cosmetic, and pharmaceutical products founded in 1980 and headquartered in Divinópolis, Minas Gerais. The company operates a portfolio of more than 450 products across ten brands — including Farmax, Sunless, Hidraderm, Hidraderm Ciclos, Moskitoff, Vasemax, BeVeg, Negra Rosa, and Sanavita — spanning skincare, haircare, sun protection, tanning, mosquito repellents, vegan cosmetics, inclusive beauty for Black consumers, and dietary supplements. Its flagship pharmaceutical product is physiological saline solution, in which Farmax holds the #1 sales position in Brazil at 8 million units produced per month. The company serves the Brazilian mass-market consumer through its own e-commerce storefront and a partner/reseller program, but the primary distribution channel is the Brazilian pharmacy network, where its products are present in more than 95% of pharmacies nationwide.

The company operates one of the largest national beauty and personal care industrial parks, with an approximately 60,000 m² facility and production capacity of more than 250 million units per year. Underlying technology centers on formulation and packaging: photostable UVA/UVB sunscreen filters, antioxidant and hybrid matte-coverage bases, 100% vegan ingredients with I'm green certified renewable packaging, Icaridina-based repellents, and clinical-tested skincare actives such as salicylic acid and hyaluronic acid. Manufacturing scale, combined with mass-market price points (sunscreens and body oils starting at R$1.00, premium SKUs reaching R$500.00), supports a low-unit-cost model aligned with Brazilian pharmacy retail economics.

Farmax generates revenue primarily through one-time unit sales of consumer products, pharmaceuticals, and dietary supplements, with no subscription or licensing model disclosed. The company has been wholly owned by the Brazilian alternative-investment firm Vinci Partners (Nasdaq: VINP) since November 2021, under whose ownership it acquired Negra Rosa and Sanavita in 2023 and closed a USD 36.4 million funding round in August 2024 led by Lazuli Partners and Vidya Capital, with Mundi Ventures participating. Vinci Partners' stated strategic objective at acquisition was to reach R$1 billion in revenue within five years. Distribution is operated through a wholly-owned logistics subsidiary, Farmax Distribuidora, alongside the pharmacy channel, e-commerce, and reseller network, with no current revenue figure disclosed in the available source material.

Name

Farmax

Legal name

Farmax S.A.

Website

https://farmax.com.br

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Farmax is a Brazilian personal care, cosmetic, and pharmaceutical manufacturer founded in 1980, operating ten brands and 450+ products distributed through more than 95% of Brazilian pharmacies and serving mass-market consumers with skincare, sun care, repellents, and supplements.

Ownership category

akta.pro rank

Product category

Personal Care & Cosmetics Manufacturing

NAICS

Lawn and Garden Equipment and Supplies Retailers (4442), Nursery, Garden Center, and Farm Supply Retailers (44424), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253), Pesticide and Other Agricultural Chemical Manufacturing (32532)

SIC

Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047), Food And Kindred Products (2000)

akta.pro primary industry

Water & Home System Care (Water Softeners, Septic Treatments, Drain/Openers, Appliance Cleaners) (CRADAKAK)

akta.pro secondary industries

Cotton & Personal Care Paper (Cotton Balls/Swabs, Paper Cotton Products) (CRADALAI), Farmers’ Markets & Farm Stands (Fresh Food) (CRAHAHAE)

Keywords

• Mass-market cosmetics
• Personal care manufacturing
• Sun protection products
• Mosquito repellents
• Pharmaceutical manufacturing

Headquarters

HQ city

Divinópolis

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Consumer Product Sales: Farmax generates revenue through the manufacture and sale of cosmetics, personal care, beauty, and wellness products across 10 brands distributed through pharmacies, retail, and direct e-commerce.
2. Pharmaceutical Products: Sale of pharmaceutical products including saline solution, where Farmax holds the #1 sales position in Brazil for physiological saline, producing 8 million units per month.
3. Dietary Supplements: Acquired Sanavita brings national-scale dietary supplement offerings including collagen and nutritional supplements for health, beauty, and fitness.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Farmax manufactures and distributes a portfolio of 450+ cosmetics, personal care, beauty, sun protection, mosquito repellent, pharmaceutical (saline solution) and dietary supplement products across 10 owned and acquired brands, sold primarily through Brazilian pharmacies and its own e-commerce storefront. Operations are anchored by a ~60,000 m² industrial park producing 250+ million units per year.

Product overview

Farmax is a diversified personal care and health products company operating as a platform of multiple brands. The portfolio includes the core Farmax brand (body care, hair oils, cosmetics, pharmaceuticals including saline serum and dietary supplements), the Sunless sub-brand (sunscreens, tanning products, and hair sun care), Hidraderm (water-based skincare with micellar water, cleansers, and exfoliators), Moskitoff (mosquito repellents), BeVeg (vegan products including oils and sunscreens), Vasemax (petroleum jelly moisturizers), and Hidraderm Ciclos (democratized skincare). The company also acquired Negra Rosa (beauty for Black women) and Sanavita (dietary supplements) in 2023. With over 450 products across 10 brands, the company operates with manufacturing capacity of over 250 million units per year, present in over 95% of Brazilian pharmacies.

Differentiator

Problem solved

Functional benefit

Brands

• Sunless: Sunscreen and sun care products brand launched in 2005 to democratize solar protection in Brazil
• Hidraderm
• Moskitoff
• Vasemax
• BeVeg
• Hidraderm Ciclos
• Óleos
• Negra Rosa
• Sanavita

Products and services

• Sunless (sub-brand)

Quantifiable outcome

• #1 market position in physiological saline sales in Brazil with 8 million units produced per month
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• SanavitacoreOthers · 1 January 2023Farmax acquired Sanavita in 2023 — its largest M&A transaction — a leading national dietary supplements company offering health, beauty, and fitness products. The acquisition expanded Farmax's portfolio into the supplements category.
• Negra RosaminorOthers · 1 January 2023Farmax acquired Negra Rosa in 2023, a beauty brand made by and for Black women and the first digital beauty brand for Black consumers in Brazil. This acquisition aligns with Farmax's expansion into inclusive beauty products.

Scale indicators7 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Grupo Boticário: Brazilian multi-brand cosmetics and personal care holding company with mass-market to premium positioning. Direct peer comparable in product breadth (skincare, makeup, fragrance, body care), Brazilian market focus, and pharmacy/retail distribution model.
• Natura &Co: Brazilian listed cosmetics multi-brand company (parent of Avon, The Body Shop, Natura, Aesop historically). Comparable in scale, multi-brand portfolio, Brazilian mass-market roots, and direct-sales plus retail distribution.
• Hinode: Brazilian direct-sales personal care, cosmetics, and fragrance company. Comparable in mass-market Brazilian positioning, broad personal care category coverage, and multi-level marketing distribution to lower-tier cities.
• Eudora: Brazilian direct-sales cosmetics brand (part of Grupo Boticário ecosystem). Comparable in affordable cosmetics, skincare, and personal care offerings targeting Brazilian mass-market consumers.
• Mary Kay Brasil: Brazilian subsidiary of Mary Kay Inc., operating through direct-sales consultants. Comparable in personal care and cosmetics category focus with mass-market Brazilian distribution.

Broad incumbents

• L'Oréal Brasil: Brazilian arm of global beauty leader L'Oréal, with extensive pharmacy and mass-market presence (L'Oréal Paris, Garnier, La Roche-Posay). Comparable in personal care and sun protection categories but operates as a multinational incumbent with premium positioning.
• Unilever Brasil: Brazilian arm of global consumer goods giant, with personal care brands (Dove, Rexona, TRESemmé) in pharmacy and grocery. Comparable in mass-market personal care but with global scale and broader category portfolio.
• P&G Brasil: Brazilian arm of Procter & Gamble, with personal care brands (Gillette, Head & Shoulders, Pantene) widely distributed in Brazilian pharmacies and grocery. Comparable in mass-market personal care but operates as a multinational incumbent.
• Sanofi Consumer Health Brasil: Brazilian operations of Sanofi Consumer Healthcare, with OTC pharmaceuticals, supplements, and personal care products distributed through pharmacies. Comparable in pharmaceutical-adjacent categories (saline, supplements) and pharmacy channel distribution.
• Eurofarma: Major Brazilian pharmaceutical company with growing consumer health and personal care divisions. Comparable in Brazilian pharmaceutical manufacturing scale, pharmacy distribution, and mass-market OTC positioning.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FarmaxOficial

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farmax