Silverwood Brands acquires stake in Lush Cosmetics for £216.8m
Silverwood Brands has acquired a 19.8 per cent stake in Lush Cosmetics for “generating new ideas to invigorate and strengthen” the retailer.
Silverwood said the total consideration for the purchase of Lush sale shares sat at around £216.8m.
This would be satisfied via an issue and allotment of 228,212,632 new ordinary shares to Lush co-founder Andrew Gerrie and his wife Alison Hawksley for a 95p per share price.
According to a statement, Silverwood plan to engage positively with the Lush management, other shareholders and stakeholders to “explore ways in which, together, they can maximise value for all parties”.
“Silverwood’s directors have an extensive professional network and significant experience in the consumer brands space, which should prove useful in generating new ideas to invigorate and strengthen the Lush brand,” it added.
Lush operates retail outlets in 48 countries and has manufacturing facilities across six nations. It produces a wide range of beauty and personal care products using vegetarian or vegan recipes, and has championed its ESG credentials.
Lush is headquartered in Poole.
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