Acquisition of Balance Active Formula
25 June 2019
Creightons plc ("the Group", "Creightons", the "Company")
Acquisition of Balance Active Formula
Creightons plc (CRL), the British-based beauty and well-being brand owner and manufacturer, announces that it has acquired the brand equity, customer list and existing stock of Balance Active Formula ("the Brand") from Brodie and Stone International plc.
The acquisition of the performance skincare brand will add to Peterborough-headquartered Creightons' growing range of beauty and well-being products as it continues to expand its brand offering and market presence. Whilst this is a relatively small transaction for the Group, we estimate that it could add an immediate £1.2m to future annual turnover as well as providing the future growth opportunities outlined below.
Balance Active Formula is a skincare brand which has built a solid sales base and customer following in the UK market. The acquisition will extend Creightons' reach into the skincare category and to new internet retailing customers as it seeks to grow its on-line offering. The brand's positioning will provide an effective vehicle through which the company can take advantage demand from consumers for performance-led products with new and effective trend ingredients.
Manufacturing of the majority of Balance Active Formula products will be moved to Creightons' manufacturing facilities in the UK.
Commenting on the acquisition Creightons' Global Marketing Director, Pippa Clark said: "We are excited by this acquisition which builds on our existing portfolio of brands in the beauty and well-being sectors. It gives us the ability to extend our offering to existing customers and the opportunity to extend our customer base, particularly in export markets. It also offers us even more effective utilisation of our existing sales and manufacturing resources."
The acquisition will be funded from the Group's existing cash resources.
ENDS
For further information
For Creightons plc
Nick O'Shea, Company Secretary 01733 281000
For Analysts and Press
Nigel Szembel/Clive Hunter-Dunne, Anagallis Communications 07802 362088 or nigelszembel@anagallis.co.uk
Creightons plc
Creightons plc is the one of the United Kingdom's leading manufacturers and brand owners in the beauty, wellbeing and lifestyle sectors. Headquartered in Peterborough, Cambridgeshire, It exports to multiple markets. Brands owned by Creightons include: Feather + Down, BAMbeautiful, The Curl Company and Creightons haircare.
Creightons' growing on-line portal can be found at www.creightons.com
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