FRP Corporate Finance secures sale of international beauty brands
US consumer goods company Thriving Brands has moved to acquire COLAB Dry Shampoo and Johnny’s Chop Shop from Cheltenham-based incubator SLG Brands. The deal was supported by experts from FRP Corporate Finance.
Founded in 1985, SLG Brands develops its own portfolio of beauty and personal care products for both domestic and international markets. The business specialises in brand creation and licensing, having partnered with well-known hight street names and celebrities for its beauty ranges including the likes of Paul Smith, Superdry, Sweaty Betty and White Fox Boutique. It is also backed by private equity firm, BGF.
SLG Brands has now sold two of its leading brands, COLAB Dry Shampoo and Johnny’s Chop Shop, to Thriving Brands, a consumer goods company based in Cincinnati, US. Backed by American private equity firm, Trive Capital, Thriving Brands will now add COLAB Dry Shampoo and Johnny’s Chop Shop to its portfolio of consumer products, including household names like Right Guard. It will also benefit from their existing distribution relationships with UK and US retailers including Tesco, Boots, Target and Walmart.
Meanwhile, the deal will allow SLG to focus on its core licensing business while unlocking capital for future growth initiatives.
Lucy Beresford, chief executive officer of SLG Brands, commented, “We conceived and founded COLAB Dry Shampoo and Johnny’s Chop Shop, and grew them into internationally recognised brands. Completing this transaction frees SLG to focus on the next era of beauty creation.”
FRP Corporate Finance’s team, led by partner Victoria Kisseleva and supported by associate director Matthew Nolan and assistant manager Alex Lewis, ran an international sale process on behalf of SLG Brands, engaging with numerous interested parties and then managing the commercial negotiations with Thriving Brands once it emerged as the best strategic buyer for both assets.
Victoria Kisseleva, partner at FRP Corporate Finance, added, “In the beauty market we’re seeing continued interest in brands that can prove repeat purchase behaviour from their customers and offer the ability to scale internationally. Haircare in particular is one area where we’re seeing growth, which is what made these brands such an attractive prospect for acquisition on the international market. It was great to be able to help the team at SLG Brands secure this deal as it forms a key part of their future growth strategy.”
