Tue, 03 May 2016 | BUSINESS SALE
Chinese insurance giant Ping An has bought popular baby product company Tommee Tippee from UK private equity group 3i for around £300 million.
The Mayborn Group, which was previously owned by 3i, makes Tommee Tippee baby products, the UK and Australia’s most popular brand of baby feeding bottles. A spokesman for 3i said the private equity firm will make around £135 million from the deal — representing three and half times its investment.
Mayborn has increasingly focused on the export market over the last 10 years, with China set to be a major interest under its new owners. The British business currently makes around 60 per cent of its £130 million revenue from overseas markets.
Alan Giddins, a partner at 3i, said of the deal: “Since the take-private of Mayborn, the transformation of the company from being largely UK focused into a market leading global business has been significant.”
The baby product company recently unveiled its Perfect Prep device, which enables parents to sterilise and warm milk with a single push of a button. This product has been earmarked by Fosun for success in the Chinese market, which is increasingly tech savvy.
The deal is the most recent British firm to be acquired by a Chinese company. Just last year, Chinese firm Fosun bought out fellow UK baby brand Silver Cross, which makes prams.
For more information, see the Business Sale Report’s wide range of resources on buying a business.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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