Tangle Teezer: A New Chapter with BIC's Acquisition
Deal News | Dec 11, 2024 | Globenewswire
In a bid to expand its presence in the high-growth personal care market, BIC has announced the acquisition of Tangle Teezer, a premium detangling haircare brand based in London. The acquisition, valued at approximately €200 million, strengthens BIC’s Horizon strategy by adding a fast-growing and profitable brand to its portfolio. Tangle Teezer, known for its patented detangling brushes, boasts an impressive market position in both the UK and North America, with projected net sales of over €70 million for 2024. The acquisition is set to enhance BIC's capabilities in innovation, product distribution, and market expansion. BIC’s CEO, Gonzalve Bich, highlighted the shared values and growth aspirations between the two companies, outlining a future of collaborative innovation aimed at redefining personal grooming. Tangle Teezer’s CEO, James Vowles, expressed enthusiasm for the partnership, especially in light of the support from former owners Mayfair Equity Partners. This strategic move positions Tangle Teezer for continued growth and development under the global BIC brand.
Sectors
- Personal Care
- Consumer Goods
Geography
- France – BIC, the acquiring company, is headquartered in Clichy, France.
- United Kingdom – Tangle Teezer, the target company of the acquisition, is based in London, UK.
Industry
- Personal Care – The article discusses BIC's acquisition of Tangle Teezer, a company specializing in haircare products, which falls under the personal care industry.
- Consumer Goods – BIC, known for consumer products like stationery, lighters, and shavers, is expanding its portfolio with the acquisition of a consumer goods brand, Tangle Teezer.
Financials
- 200 million – The total consideration amount paid by BIC to acquire Tangle Teezer.
- 70 million – The estimated net sales of Tangle Teezer for the year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BIC | Bidding Company/Buyer | Company | A global leader in stationery, lighters, and shavers, expanding into personal care with the acquisition of Tangle Teezer. |
| Tangle Teezer | Target Company | Company | A London-based premium haircare company, known for its patented detangling brushes and robust presence in Europe and North America. |
| Mayfair Equity Partners | Selling Company/Vendor | Company | The private equity firm that previously owned Tangle Teezer, supporting its growth until the acquisition by BIC. |
| Gonzalve Bich | CEO of BIC | Person | CEO of BIC, leading the acquisition strategy and expansion into the personal care sector. |
| James Vowles | CEO of Tangle Teezer | Person | CEO of Tangle Teezer, who has steered the brand through its growth and is now integrating it into BIC. |