Beauty buyout follows £6m takeover deal to acquire premium skin care brand Emma Hardie
Personal care group Brodie & Stone has been acquired by British cosmetics owner Creightons for a price tag of £4.8m.
As part of the deal, the Peterborough-based beauty manufacturer will take over the entire share capital of Brodie & Stone Holdings, as well as its subsidiary Brodie & Stone International.
Some £3.7m has been issued in cash for the takeover, and the issue of one million ordinary shares in the company.
Turnover for Brodie & Stone, whose brands include Janina Ultra White, Natural World and T-Zone, across hair, body, skin and male grooming, reached £5.8m with profits after tax of £500,000.
Creightons has previously done business with Brodie & Stone after purchasing its Balance Active Formula brand in 2019, which has been a success for the business in driving growth and improved margins for the cosmetics producer.
No doubt, a similar roadmap will be set out for the new brands that are placed well in Creightons’ core market position.
“We are pleased to announce the acquisition of Brodie & Stone, which will further strengthen our position in the UK [...] market,” said the company’s Managing Director, Bernard Johnson.
“It is further evidence of our ambition and commitment to expand our branded business as announced during our recent investor presentation.”
Creighton’s latest buyout move follows its acquisition of premium skin care brand Emma Hardie in July for £6.3m.
The manufacturer now has full control of the holistic facialist’s namesake brand, and intends to drive the company’s UK and international presence, as well as developments in NPD.