Joint Venture Settlement: Mr Haircare Limited

Brand Architekts Group PLC

01 December 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "EUWA")) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Brand Architekts Group PLC 

("Brand Architekts" or the "Group")

Joint Venture Settlement: Mr Haircare Limited

Brand Architekts Group plc, a challenger British Beauty brand business, were pleased to announce on 30th June 2023, a resolution of its legal claim with Jamie Stevens Media Limited (JSML), its joint venture counterparty/co-shareholder in Mr Haircare Ltd. The Group agreed to a full and final settlement of all claims and to purchase JSML's 55% shareholding in Mr Haircare Ltd in cash at a fair value price to be determined by an external valuer. An independent valuer was appointed and JSML's shareholding has been valued at £535,000. Final payment will be made shortly.

The acquisition of MR Haircare is in line with the company's strategic vision to invest and build its portfolio of high-performance, problem-solving and margin accretive brands. The brand will be relaunched as 'MR Expert Solutions' and the company's vision is to initially consolidate its position in the Men's Thicken and Disguise haircare category and then expand the brand into adjacent male grooming problem solving categories and invest in the master brand to accelerate brand awareness and stimulate consumer trial.

For further information please contact:
Brand Architekts Group PLC Quentin Higham
Singer Capital Markets Shaun Dobson / Jen Boorer	(Nominated adviser and broker)	020 7496 3000
Alma PR Josh Royston / Sam Modlin		0203 405 0205

 

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