Fri, 05 Jan 2018 | BUSINESS SALE
Tommee Tippee owner, Mayborn Group has purchased baby sleep bag brand Grobag and the company behind it for £22 million.
The Gro Company was founded in 2000, by two parents who were struggling to get their baby off to sleep at night. The company behind the Grobag brand, Gro-Group Holdings, has progressed to now offer a range of products for newborns, such as the Grosuit, Grohush, and Grolight.
Stockists for the Grobag range include Mothercare, Amazon, John Lewis and Argos among others.
Momentum Corporate Finance, announced the deal, and acted as adviser for Gro Company management. After the sale the company is to remain at its base in Exeter, where most if its 38 are located.
"The Gro Company has a fantastic range of well-loved and respected products which help parents get babies to sleep safely.” Steve Parkin, chief executive of Mayborn Group said, as reported by Insider Media.
"It shares a number of synergies with our Tommee Tippee brand and we believe that we can use our global position to help grow this business dramatically and bring Gro’s sleep-time solutions to parents around the world” he added.
Mayborn's Tommee Tippee brand was launched in 1965, and is used by parents globally.
A small team of three of us focus on sales, purchasing, and administrative tasks. The business could easily be integrated within an existing team to support higher profits.
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