P&G sells Yardley to Lornamead
inventory of quintessential English toiletries brand Yardley from
P&G.
The acquisition, for an undisclosed sum, covers all global markets with the exception of South Africa and Colombia.
Yardley was established in 1770 and, with three royal warrants, is renowned as the quintessential luxury English toiletries brand. It consists of soap, talc, eau de toilette, skin care, pressed powder and male grooming products, which have worldwide annual retail sales of around $100 million (€83.2 million).
Mike Jatania, chief executive of Lornamead, said: "Yardley is a highly regarded luxury toiletries brand with a significant global presence. We believe there is considerable scope to expand Yardley, exploiting the awareness of the brand world-wide as well as new distribution channels."
Lornamead's business focus is on the acquisition of 'orphan' consumer brands from multinational companies, which do not view them as a core part of their business. Since 2000, it has acquired around 30 brands for a combined total of $200 million (€166.4), including Harmony hairspray, Lypsyl lip balm and Amplex deodorants.
In June of this year it plucked five Wella consumer brands from the P&G fold: Fixonia, Handsan, Crisan, Bristow and Vosene. It also has a licensing agreement with P&G and Wella to market and distribute hair care brands including Herbal Essence and Silvikrin in Ireland.
Jatania added that Lornamead is on the look out for more potential personal care acquisitions.
"There will also be acquisition prospects arising from further industry consolidation and disposals as a result of competition issues," he said.
