Tue, 02 May 2017 | BUSINESS SALE
A group led by one of Yorkshire’s most successful entrepreneurs has acquired the owner of a number of beauty and personal care brands.
Graham Royle’s GRI Group has snapped up I Love Cosmetics (ILC), whose brands include I Love…, New York Professional, The Good Stuff! and Balmi, Insider Media reported.
Under the acquisition, terms of which were not disclosed, ILC will become a subsidiary of GRI Brands Ltd. The firm said the beauty firm would “grow with flair and passion”.
As part of the move the business will operate with its existing team, headed by managing director James Brown, with Royle becoming ILC’s new chairman and chief executive.
I Love Cosmetics’ brands supply the health, beauty and toiletry markets, with products including beauty care, bath and body, hair care and lip care.
Graham Royle said: "ILC will strategically complement our group of associate companies, which offer excellent synergies to each other.
“The brands’ business takes the group further downstream from its ingredients and products’ manufacturing facilities and offers many new market opportunities.
"ILC enjoys a valued position with both its incredible range of suppliers and customers and from day one we have already begun to implement a comprehensive strategy of growth, which will see significant product development and geographical market development. We are also targeting to acquire more brands to bring into the portfolio."
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