Tangle Teezer, the British hairbrush firm famously rejected by Dragons’ Den panellists seventeen years in the past, has been acquired by French client items large Bic in a deal value €200 million.
Based in 2007 by former hairdresser Shaun Pulfrey, 63, Tangle Teezer was initially met with scepticism by buyers together with Peter Jones and Deborah Meaden on the BBC present. Nevertheless, its temporary tv look kick-started on-line gross sales and paved the best way for important progress.
The corporate’s eponymous detangling brushes, designed to easy hair with much less harm than conventional instruments, have turn out to be a worldwide success. Tangle Teezer now sells its merchandise in additional than 75 international locations and recorded revenues of £53.5 million in 2023, doubling its turnover within the final 4 years. Pre-tax income reached £4.93 million, up 1 per cent on the earlier 12 months.
Gonzalve Bich, Bic’s chief govt, hailed the acquisition as a chance to develop the agency’s presence within the €4.5 billion international hairbrush and comb market. “With a consumer-first approach, together we aim to redefine personal grooming by creating personalised haircare solutions that enhance daily routines,” he stated.
Bic, finest recognized for its ballpoint pens, additionally has a robust foothold in magnificence and grooming with its vary of razors and Bodymark non permanent tattoo markers. The group believes including Tangle Teezer to its portfolio will assist it faucet right into a dynamic, fast-growing section of the non-public care trade.
James Vowles, Tangle Teezer’s chief govt, stated that in choosing a associate for the subsequent stage of progress, Bic “stood out” because of its monitor report in assembly client wants with easy, inexpensive merchandise.
In 2021, non-public fairness agency Mayfair Fairness Companions acquired a majority stake in Tangle Teezer, valuing it at round £70 million. Shaun Pulfrey bought the majority of his shares at the moment, having turned a fledgling thought right into a multi-million-pound enterprise that overcame the early knockback from Dragons’ Den to safe a spot in bogs worldwide.
