Wed, 29 Sep 2021 | BUSINESS SALE
Sports retailer JD Sports has acquired a majority stake in online haircare retailer Hairburst, as the acquisitive group makes its first foray into the UK’s beauty sector. Hairburst was founded in 2014 and now markets its products – including shampoos and vitamins – online to customers in France, Italy, US, South East Asia and the Middle East and North Africa (MENA) and is stocked at several UK retailers.
JD Sports has been engaged in an acquisition spree in the fashion industry over the past year. The group has acquired brands including Wellgosh and Oi Polloi, but pulled out of a deal to acquire Debenhams at the end of last year. In February, the company raised around £464 million via a placing of ordinary shares in order to fund its ongoing acquisitive activity and has been linked with a move for online retailer Missguided.
The move for Hairburst is not intended to be its last in the beauty sector, with the company saying it will be targeting acquisitions of “complementary entrepreneurial businesses”. Reports also indicate that Hairburst will also target bolt-on acquisitions with the assistance of JD Sports in order to build a beauty group.
JD Sports Executive Chairman Peter Cowgill said: “We are pleased to have made this initial acquisition in the beauty sector and have been impressed by the capabilities of the management team, who have a strong identity and connection with millennials and Gen Z consumers.”
Hairburst co-founder James Hill added: “We are very proud to be the first beauty business to partner with JD on its venture into the beauty industry. With our ability to create amazing products and market through social media, supplemented by JD’s consumer connection, financial power and global scale, we see great potential to build the Hairburst brand and acquire other brands within the sector.”
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