B&B Investment Partners, the manager of a newly formed specialised investment fund focused on small and medium sized consumer brand businesses within the heath, wellness and personal care sectors, has announced that it is to acquire UK based premium spa and skin care brand Aromatherapy Associates for an undisclosed sum. The brand, which was co-founded by Geraldine Howard in 1985, supplies aromatherapy products to over 400 customers in 40 countries. Since December 2009, it has been majority owned by Ian Richardson and Dr Magdy Ishak via their investment company Optivi Limited.
Commenting on the transaction, Howard, President of Aromatherapy Associates, said: “B&B totally understands the vision of our business and the development plans for the future. They bring more than just investment, they bring expertise and support that will help the team and myself grow the business at an accelerated pace. We now have all the ingredients to further develop a highly successful premium spa and retail brand across multiple channels, globally.”
Chris Britton and Jean-Philippe Barade, the principals of B&B Investment Partners, added: “B&B Investment Partners was set up to provide talented entrepreneurs with financial, strategic and specialist commercial support to help them unlock the growth potential of their businesses. Aromatherapy Associates is a leading global brand with strong British heritage which is highly differentiated, scalable and with many growth opportunities.”
