LONDON, UK: Rapid Nutrition Plc has entered right into a non-binding letter of intent to acquire FFS Beauty Limited (FFS), one of Europe’s main female-focused shaving and magnificence subscription businesses. The acquisition is anticipated to shut later this year, topic to required phrases and approvals.
Founded in 2015 and based within the United Kingdom, FFS has greater than 90,000 active subscribers and provides eco-friendly, vegan and cruelty-free physique care and magnificence merchandise with 100 percent recyclable supplies to its loyal buyer base.
FFS Beauty Limited boasts a three-year CAGR in income (FY2021 £5.1m) of nearly 25 percent with common gross margins of 39 percent and is now well positioned for worldwide expansion. The global shaving market reached a worth of £27.6bn in 2022 with the EU razor market valued at £4.93bn and the UK razor market £535.2m (source: Statista and Mintel)
Simon St. Ledger, Group CEO of Rapid Nutrition PLC said: “FFS is a perfect match for Rapid Nutrition’s global growth diversification technique as we proceed to hone our worldwide focus on pure well being and wellness merchandise and innovations,” said Rapid Nutrition CEO Simon St. Ledger. “The self-care market exploded throughout the pandemic and goes stronger than ever, making these acquisitions a pure a half of our firm growth focus and initiative.”
Earlier this year, Rapid Nutrition acquired the influencer brand, The Plant-Based Bundle as a half of its firm growth strategy. In addition, the firm additionally signed new distribution agreements in Asia and the Middle East in addition to introduced its new manufacturing partnership to produce the teams distinctive Azurene pure formula. Final testing is currently being conducted earlier than eventual launch now anticipated for early subsequent year.