Fri, 02 Sep 2011 | BUSINESS SALE
UK maker of razors and shaving oils, King of Shaves, has been put on the market, with Singapore-based investment bank Alpha Advisory appointed to manage the sale process
The decision to sell came after founder Will King received takeover approaches that put a value on the business of as much as £45 million. Two potential bids have already been received from US shaving firm Remington and Kai Industries, which already owns 21 per cent of King of Shaves.
Based in Beaconsfield, Buckinghamshire, King of Shaves sells its products to Tesco, Sainsbury’s and Boots, along with large US retailers. Will King set up his razor business in 1993 from his home with £15,000, and once used Speakers’ Corner in Hyde Park to promote King of Shaves.
It has been predicted that a buyer may come from Asia, which is expected to be an important area for growth.
With sales of about £25 million, the King of Shaves has emerged as a direct competitor to Proctor and Gamble’s men’s shaving brand Gillette.
The brand is due to launch its Azor % razor in the autumn to challenge Gillette’s Fusion ProGlide product.
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