TIDMTHG
RNS Number : 6410V
THG PLC
05 December 2023
05 December 2023
THG PLC
Acquisition of Biossance, a prestige clean beauty brand
THG PLC ("THG" or the "Group"), has agreed to acquire prestige
skincare brand Biossance for a maximum consideration of $20
million.
Since inception in 2015, Biossance has generated global revenues
of c. $300m and is currently stocked in over 1,600 stores globally
including Sephora, Harrods, Space NK, Douglas and Selfridges plus
online through www.biossance.com , Lookfantastic and Cult
Beauty.
The brand's curated skincare range of cleansers, creams and
serums is centered on its innovative ingredient technology and a
commitment to sustainability, with price points ranging from $15 to
$74.
Financial Impact
-- THG is acquiring Biossance from US biotechnology group Amyris
Inc., which recently commenced voluntary Chapter 11
proceedings.
-- An auction was held on 30 November 2023 with THG declared as
the successful bidder for assets including IP, plus inventory and
debtors with a book value of $29m.
-- Closing is expected to follow in mid-December, with integration completing in Q1 2024.
Matthew Moulding, CEO of THG, commented:
"We are delighted to acquire the pre-eminent skincare brand
Biossance. The technology-led, clean chemistry formulations
resonate with consumers globally, evidenced by a strong performance
on our own retail sites.
"We have significant experience in prestige skincare as an
innovator and manufacturer, and through our own brand portfolio
including Perricone MD and ESPA. We're incredibly fortunate and
excited to secure this opportunity to work with the Biossance team
and further build on the brand's strong awareness across the
US.
"The fit within THG is perfect, with Biossance already
generating c. $2 million in revenue across our retail sites in the
past 12 months. Integration on to the Ingenuity platform will
commence as soon as the deal is finalised."
For further information please contact:
Investor enquiries - THG PLC
Greg Feehely, SVP Investor Relations Investor.Relations@thg.com
Kate Grimoldby, Director of Investor
Relations and Strategic Projects
Media enquiries:
Powerscourt - Financial PR adviser Tel: +44 (0) 20 7250
1446
Victoria Palmer-Moore/Nick Dibden/Nick thg@powerscourt-group.com
Hayns/Russ Lynch
THG PLC
Viki Tahmasebi Viki.tahmasebi@thg.com
ENDS
Notes to editors
THG is a vertically integrated, digital-first consumer brands
group, retailing its own brands in beauty and nutrition, plus
third-party brands, via its complete commerce solution, Ingenuity,
to an online and global customer base. THG's business is operated
through the following divisions:
THG Beauty: A digital-first brand owner, retailer and
manufacturer in the prestige beauty market, with a portfolio of
own-brands across skincare, haircare and cosmetics. Through its
retail websites, including Lookfantastic, Dermstore, Cult Beauty
and the beauty subscription box brand GLOSSYBOX, it is a route to
market globally for over 1,300 third-party premium brands. THG
Beauty also operates prestige spa and experience venues, in
addition to luxury clothing and homeware D2C sites.
THG Nutrition: A group of digital-first Nutrition brands, which
includes the world's largest online sports nutrition brand
Myprotein and its family of brands (Myvegan, Myvitamins, MP
Activewear and MyPRO), with a vertically-integrated business model
supported by global THG production facilities.
THG Ingenuity: Ingenuity provides a complete commerce solution
tailored for enterprise brand owners. Its solutions are designed to
accelerate growth across its three pillars of technology, marketing
and operations. With a heritage in building direct to consumer
brands, it is uniquely positioned to bring pertinent, pragmatic,
and global expertise across all aspects of commerce.
Cautionary Statement
Certain statements included within this announcement may
constitute "forward-looking statements" in respect of the group's
operations, performance, prospects and/or financial condition.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words and
words of similar meaning as "anticipates", "aims", "due", "could",
"may", "will", "should", "expects", "believes", "intends", "plans",
"potential", "targets", "goal" or "estimates". By their nature,
forward-looking statements involve a number of risks, uncertainties
and assumptions and actual results or events may differ materially
from those expressed or implied by those statements. Accordingly,
no assurance can be given that any particular expectation will be
met and reliance should not be placed on any forward-looking
statement. Additionally, forward-looking statements regarding past
trends or activities should not be taken as a representation that
such trends or activities will continue in the future. No
responsibility or obligation is accepted to update or revise any
forward-looking statement resulting from new information, future
events or otherwise. Nothing in this announcement should be
construed as a profit forecast. This announcement does not
constitute or form part of any offer or invitation to sell, or any
solicitation of any offer to purchase any shares or other
securities in the Company, nor shall it or any part of it or the
fact of its distribution form the basis of, or be relied on in
connection with, any contract or commitment or investment decisions
relating thereto, nor does it constitute a recommendation regarding
the shares or other securities of the Company. Past performance
cannot be relied upon as a guide to future performance and persons
needing advice should consult an independent financial adviser.
Statements in this announcement reflect the knowledge and
information available at the time of its preparation.
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END
ACQNKQBNDBDBCBK
(END) Dow Jones Newswires
December 05, 2023 02:00 ET (07:00 GMT)
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