Following the acquisition, PZ Cussons now owns approximately 92% of the Childs Farm business, for a total consideration of £36.8m (€43.8m), with an agreed path to full ownership by the end of May 2025.
Products under the Childs Farm brand include bath and shower products, skin care and hair care, all suitable for sensitive skin and fitting well with PZ Cussons strategy of “Building Brands for life, today and for generations to come,” said CEO Jonathan Myers.
“From recovery to transformation”
“As we move from turnaround to transformation, we are excited to take this important step to accelerate growth in our core categories and focus markets,” he said.
The brand is “very complementary” to PZ Cussons’ baby and hygiene strategy, added Myers, with the company keen to both improve its leading position in the UK and strengthen its international potential.
“Childs Farm is an undisputed leader in sustainability, demonstrating that we share a strong ethos, as PZ Cussons progress towards our own B Corp ambition,” added Myers. “We look forward to welcoming Childs Farm to the PZ Cussons family as a go-to brand and driving the next stage of its growth in the UK and beyond.”
Read more: PZ Cussons half-year profit falls as demand falls and costs rise
“Shared vision” for the brand
Childs Farm was founded in 2011 by Joanna Jensen, who added she was “incredibly proud” of the brand she has become.
“It is clear to me that in PZ Cussons, with our shared brand vision and cultural fit, we have found a fantastic partner, and the team and I look forward to working with them to take the business forward. at the next level,” she said.
As of December 31, 2020, Childs Farm had gross sales of £17.4 million (€20.7 million) and a pre-tax loss of £0.9 million (€1.07 million). euros).
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