Tangle Teezer, the British hairbrush company rejected by Dragons Den cast members seventeen years ago, has been acquired by French consumer goods giant Bic in a deal worth €200 million.
Founded in 2007 by former hairdresser Sean Pulfrey, 63, Tangle Teezer was initially met with skepticism by investors including Peter Jones and Deborah Meaden on the BBC programme. However, her brief television appearance sparked online sales and paved the way for significant growth.
Its eponymous detangling brushes, designed to smooth hair with less damage than traditional tools, have been a global success. Tangle Teezer now sells its products in more than 75 countries and recorded revenues of £53.5 million in 2023, doubling its turnover in the past four years. Profit before tax was £4.93 million, up 1 per cent on the previous year.
Gonsalf Bic, CEO of Bic, hailed the acquisition as an opportunity to expand the company’s presence in the €4.5 billion global hairbrush and comb market. “With a consumer-first approach, together we aim to redefine personal care by creating personalized hair care solutions that enhance daily routines,” he said.
Bic, best known for its ballpoint pens, also has a strong foothold in the beauty and grooming space with its range of Bodymark razors and temporary tattoo pens. The group believes that adding Tangle Teezer to its portfolio will help it capitalize on a dynamic, fast-growing segment of the personal care industry.
In choosing a partner for its next phase of growth, Bic “stood out” thanks to its proven track record of meeting consumers’ needs with simple, affordable products, said James Fowles, CEO of Tangle Teezer.
In 2021, private equity firm Mayfair Equity Partners took a majority stake in Tangle Teezer, valuing it at around £70 million. Sean Pulfrey sold the bulk of his shares at the time, having turned a fledgling idea into a multi-million pound enterprise that overcame an early knockout from Dragons’ Den to secure a place in bathrooms around the world.
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