Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products, including its own portfolio of brands, have announced the acquisition of the male grooming brand, ‘Fish’.
’Fish’ is a well-established, contemporary brand with a ‘born in Soho’ positioning reflecting a close connection with London-style trends through its link to the original Fish salon in D’Arblay Street.
This heritage underpins a range of high performance men’s hair styling products which were launched more than 15 years ago and currently retail in Boots, Superdrug, Tesco and Waitrose.
All related trademarks have been acquired from Fish London Limited and stock, website domains, and other marketing collateral has been acquired from KMI Brands Limited.
The consideration for the acquisition involves an upfront cash consideration of £2.7 million, with a further 12-month performance-based earn out figure of £300,000. For the year to 31 December 2017, the ‘Fish’ brand generated net sales of £1.7 million and achieved £400,000 EBITDA.
The brand will be managed by the team at Brand Architekts in Teddington, whose current portfolio includes brands such as MR., The Real Shaving Company and Tru.
Founder of the ‘Fish’, Paul Burfoot, will work with Swallowfield as a consultant. Paul continues to own and operate the iconic ‘Fish’ salon in Soho and is renowned for his innovative creativity as a trend setter in hair styling.
Chris How, Chief Executive Officer, commented: “Following the acquisitions of Real Shaving Company in 2015 and The Brand Architekts in 2016 we have been delighted to have seen strong growth momentum in our owned brand portfolio.
“This segment of our business showed sales growth of 25% in the first half of our current financial year and in that same period contributed 31% of Group sales. The addition of Fish to this vibrant portfolio will add further strength and growth potential.”