BIC ACQUIRES TANGLE TEEZER, A PREMIUM DETANGLING HAIRCARE COMPANY
Acquisition of a market-leading, fast-growing and profitable brand
Builds upon BIC's capabilities to further accelerate innovation and synergies in an attractive high growth segment
Clichy, France - December 11, 2024 - BIC announced today the acquisition of Tangle Teezer, a premium detangling haircare company. In a world where consumers are increasingly turning to brands that prioritize high quality and exceptional value, Tangle Teezer and BIC share a common DNA - delivering joy and simplicity in everyday life while championing innovative solutions and industrial excellence. BIC acquired 100% of Tangle Teezer for a total consideration of approximately €200 million1.
Tangle Teezer is a pioneering, fast-growing and profitable haircare company headquartered in London, United Kingdom. Launched in 2007 as the world's first expertly designed detangling tool, Tangle Teezer designs a unique patented range of brushes, allowing consumers to detangle hair while limiting damage. Its experienced management team developed an internationally recognized brand with an established position in Europe and North America, making Tangle Teezer the market leader in the UK and a growing player in the US.
With more than €70 million2 of estimated net sales in 2024, Tangle Teezer doubled its size over the last 4 years, demonstrating its ability to establish leadership and build market share successfully in a highly fragmented hairbrush and comb market estimated at €4.5 billion.
This acquisition supports BIC's Horizon strategy by gaining exposure to a scaled, fast-growing and profitable business with meaningful upside potential. BIC will build on its outstanding capabilities in creating and distributing high-quality, value-for-money products to unlock synergies and accelerate Tangle Teezer's next phase of growth. As part of BIC, Tangle Teezer is well positioned to reach further scale and gain market-leading positions in BIC's key regions.
Tangle Teezer's expertly designed products, combined with BIC's unique commercial and supply chain capabilities will continue to drive long-term profitable growth.
Gonzalve Bich, CEO of BIC, said: "Today marks a new chapter for BIC. We are excited to acquire a market-leading business in a dynamic, high-growth market where we can drive value. Both companies share a deep spirit of joy, innovation, entrepreneurship, and a common vision for growth. With a consumer-first approach, together we aim to redefine personal grooming by creating personalized haircare solutions that enhance daily routines. Our strategy is to build long-term trust by offering quality products that provide simple solutions to enhance self-care experiences. We proudly welcome Tangle Teezer to BIC."
James Vowles, CEO of Tangle Teezer, said: "At the heart of Tangle Teezer's 17 year+ success is our focused approach to providing an unrivalled product, driven by innovation and fuelled by strategic brand development. We thank Mayfair Equity Partners for their support in helping the business accelerate these initiatives and backing our ambitious growth journey. In considering potential partners for the next stage of Tangle Teezer's growth journey, BIC stood out. With a shared set of values and vision, BIC has built an impressive global business of brands through understanding consumers' needs and developing safe, affordable products that are easy and simple to use. It is an exciting time for the Tangle Teezer brand, now as a part of global BIC, and I look forward to further innovation and growth for the brand and its consumers."
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Contacts
| Brice Paris VP Investor Relations +33 6 42 87 54 73 brice.paris@bicworld.com Michèle Ventura Senior Investor Relations Manager +33 6 79 31 50 37 michele.ventura@bicworld.com | Bethridge Toovell VP Global Communications +1 917 821 4249 bethridge.toovell@bicworld.com Apolline Celeyron Senior Communications Manager +33 6 13 63 44 43 apolline.celeyron@bicworld.com |
About BIC
A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC's commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 14,000 team members worldwide, BIC's portfolio includes iconic brands and products such as BIC® 4-Color, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load, EZ Reach®, BIC® Flex, Soleil® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, BIC is also recognized for its steadfast commitment to sustainability and education. For more, visit www.corporate.bic.com and to see BIC's full range of products visit www.bic.com. Follow BIC on LinkedIn, Instagram, YouTube and TikTok.
About Tangle Teezer
Launched in 2007 as the world's first retail-anchored and professional detangling tool, Tangle Teezer is a British company that designs an award-winning range and unique patented range of brushes that allow customers to better manage long-term hair health with less damage and breakage. The first and signature product, a detangling hairbrush dubbed "The Original" eventually achieved cult popularity and received the Queen's Award for Innovation in 2012, and International Trade in 2014, as well as reaching the Sunday Times Fast Track 100 in 2013 and 2016. Today, Tangle Teezer is sold in 70 international markets. Since 2021, Tangle Teezer has been owned by Mayfair Equity Partners.
1 Amount in local currency represents £165 million (GBP/EUR exchange rate at the time of the closing was 0.83)
2 Representing more than £60 million in local currency (at 0.83 GBP/EUR)
