Creightons acquires Emma Hardie skincare brand for £6.26 million
True to its word, Creightons has been on the acquisition trail. The UK-based personal care, beauty, and fragrance products maker said Friday it has acquired the Emma Hardie business, including the eponymous skincare brand. A price tag of £6.36 million comprises £5 million in cash and the issue of 1.6 million ordinary shares.
Creating natural, cruelty-free, innovative products, the decade-old business “has become an international, independent skincare brand with over 40 prestigious beauty awards with customers throughout the UK, Europe, USA, and Asia Pacific”, Creightons said of its new acquisition.
Meanwhile, Barry Cook, former managing director of Emma Hardie, has been hired “to facilitate a smooth transition and to develop new sales opportunities”, Creightons added.
In the most recent available accounts for the year to 30 June 2020, Emma Hardie’s gross assets for the year were £2.46 million. Pre-tax profits for the period were £46,819 while turnover came in at just over £3.8 million.
“The acquisition represents an important development for Creightons plc with the addition of a premium skincare brand with an established consumer base”, it said.
“The addition strengthens our brand portfolio and offering by taking the business into a higher end group of retailers and digital platforms".
It added: “There are both manufacturing and management synergies that will drive a higher return in the brand, as well as significant opportunities for extending the distribution of the brand in the UK market and in multiple international markets. Our in-house development and brand teams will also be able to extend the bandwidth of the brand offering, to drive sales expansion and margin opportunities”.
Creightons’ MD Bernard Johnson said the acquisition “represents a significant investment is a premium skincare business with an impressive digital customer base. It is consistent with our strategy to develop our branded business which we have identified as a key driver for growth in the future”.
In its trading statement earlier this month, Creightons said it was in an “excellent position to take advantage of any new opportunities”, including “being open to the acquisition of new brands with a digital presence”.
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