Wed, 29 Sep 2021 | BUSINESS SALE
Sports retailer JD Sports has acquired a majority stake in on-line haircare retailer Hairburst, because the acquisitive group makes its first foray into the UK’s beauty sector. Hairburst was based in 2014 and now markets its merchandise – together with shampoos and nutritional vitamins – on-line to prospects in France, Italy, US, South East Asia and the Middle East and North Africa (MENA) and is stocked at a number of UK retailers. JD Sports has been engaged in an acquisition spree within the vogue trade over the previous yr. The group has acquired manufacturers together with Wellgosh and Oi Polloi, however pulled out of a deal to amass Debenhams on the finish of final yr. In February, the corporate raised round £464 million by way of a putting of abnormal shares in an effort to fund its ongoing acquisitive exercise and has been linked with a transfer for on-line retailer Missguided.The transfer for Hairburst is just not supposed to be its final within the beauty sector, with the corporate saying will probably be concentrating on acquisitions of “complementary entrepreneurial companies”. Reports additionally point out that Hairburst can even goal bolt-on acquisitions with the help of JD Sports in an effort to construct a beauty group. JD Sports Executive Chairman Peter Cowgill stated: “We are happy to have made this preliminary acquisition within the beauty sector and have been impressed by the capabilities of the administration crew, who’ve a powerful id and connection with millennials and Gen Z shoppers.”Hairburst co-founder James Hill added: “We are very proud to be the primary beauty enterprise to associate with JD on its enterprise into the beauty trade. With our skill to create wonderful merchandise and market by way of social media, supplemented by JD’s client connection, monetary energy and world scale, we see nice potential to construct the Hairburst model and purchase different manufacturers throughout the sector.”Find companies on the market right here.If you’re on the lookout for an exit, we will help!
Share this text