The French pen manufacturer Bic has announced its acquisition of British hairbrush company Tangle Teezer for €200 million, marking a significant victory for a business famously rejected on BBC’s Dragons’ Den in 2007.
The remarkable success story began when hairdressing veteran Shaun Pulfrey, 63, created an innovative detangling brush after recognising his clients’ persistent struggles with tangled hair. Despite being dismissed by investors including Peter Jones and Deborah Meaden on the popular television programme, the company has flourished, reporting impressive revenues of £53.5 million in 2023.
Bic’s chief executive, Gonzalve Bich, expressed enthusiasm about entering the £4.5 billion global hairbrush market, stating the acquisition aligns with their strategy to expand their personal grooming portfolio. The French conglomerate, renowned for its stationery and razor products, sees substantial growth potential in Tangle Teezer’s market position.
The British company has demonstrated remarkable growth trajectories, doubling its sales over the past four years and establishing a presence in more than 75 countries. The United States represents its largest and fastest-growing market, contributing significantly to its pre-tax profits of £4.93 million in 2023.
Prior to the Bic acquisition, Mayfair Equity Partners had purchased a majority stake in Tangle Teezer in 2021, valuing the company at £70 million. The latest deal represents a substantial return on investment for the private equity firm and remaining shareholders.
The acquisition strengthens Bic’s position in the beauty and personal care sector, complementing its existing portfolio of consumer goods and marking a strategic move into the premium haircare market.
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