Acquisition of Real Shaving Company Brand

RNS Number : 5670O

Swallowfield PLC

29 May 2015

 

Swallowfield plc

("Swallowfield" or the "Company")

Acquisition of Real Shaving Company Brand

On 30 April 2015 Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products; whose customers include many of the world's leading brands, announced the acquisition of the 'Real Shaving Company' brand ('RSC') from Creightons plc, conditional on their shareholder approval.  The Company is pleased to announce that following a General Meeting held on 27 May 2015 Creighton's shareholders approved the transaction and completion therefore took place yesterday.

The purchase price paid comprises cash consideration of £1.0m plus stock on valuation of £0.15m for a total cash consideration of £1.15m.

The Real Shaving Company has been a well-established premium brand in the male grooming sector since 2002. Its acquisition gives Swallowfield a branded platform with which to accelerate development of its strategy. The plan is to extend the offering into new products and markets with plastic aerosols and expansion into female shave formations and gifting, thus leveraging Swallowfield's innovative technologies and proven capabilities.

RSC products are currently distributed in Canada and France, as well as the UK, and the aim is to maximise these relationships to build on the presence in these markets with Swallowfield's wider product range, particularly with recently introduced brands such as 'Bagsy' and the value retail range 'Tru'.

Chris How, Chief Executive, commented:

'We are pleased to have acquired this well-established and well-loved brand which will accelerate the delivery of our strategy and provide opportunitiesto create shareholder value'.

For further information please contact:

Swallowfield plc

Chris How                                                          Chief Executive Officer                  01823 662 241

Mark Warren                                                      Group Finance Director                 01823 662 241

Jonny Franklin-Adams / Nic Hellyer

/ Jen Boorer                                                       N+1 Singer                                     0207 496 3000

Alan Bulmer                                                       Investor Focus International           07831 654744

Chris Lawrance                                                 JBP Public Relations                        0117 907 3400

 

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