SLG Brands has sold hair care brands Colab and Johnny’s Chop Shop to Thriving Brands.
Dry Shampoo brand Colab and barber shop-inspired men’s grooming range Johnny’s Chop Shop will join US-based Thriving Brands portfolio of beauty brands, which includes Right Guard deodorants.
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The deal – the terms of which have not been disclosed – will leave UK-based beauty brand owner SLG Brands focused on its core licensing business and unlocking capital for future growth initiatives.
“We conceived and founded Colab Dry Shampoo and Johnny’s Chop Shop, and grew them into internationally recognised brands,” said Lucy Beresford, CEO of SLG Brands.
“Completing this transaction frees SLG to focus on the next era of beauty creation.”
SLG Brands produces beauty products for fashion brands Paul Smith, Superdry and White Fox, among others.
The group also owns hair care brands Rhyme and Reason and Happy Hair People.
“In the beauty market we are seeing continued interest in brands that can prove repeat purchase behaviour from their customers and offer the ability to scale internationally,” said Victoria Kisseleva, Partner at FRP Corporate Finance, who led the sale.
“Hair care in particular is one area where we are seeing growth, which is what made these brands such an attractive prospect for acquisition on the international market.”
