BIC ACQUIRES TANGLE TEEZER, A PREMIUM DETANGLING HAIR CARE COMPANY

BIC ACQUIRES TANGLE TEEZER, A PREMIUM DETANGLING HAIR CARE COMPANY

Acquisition of a leading brand in its market, with rapid growth and profitability

Leverages BIC capabilities to further accelerate innovation and synergies in an attractive, high-growth segment

Clichy, France – December 11, 2024 – BIC today announced the acquisition of Tangle Teezer, a premium detangling hair care company. In a world where consumers are increasingly turning to brands that prioritize high quality and exceptional value, Tangle Teezer and BIC share a common DNA: offering joy and simplicity in everyday life while championing innovative solutions and excellence industrial. BIC acquired 100% of Tangle Teezer for a total amount of approximately 200 million euros¹.

Tangle Teezer is a pioneering, fast growing and profitable hair care company headquartered in London, UK. Launched in 2007 as the world’s first expertly designed detangling tool, Tangle Teezer designs a unique, patented range of brushes, allowing consumers to detangle hair while limiting damage. Its experienced management team has developed an internationally recognized brand with an established position in Europe and North America, making Tangle Teezer the market leader in the UK and a growing player in the US.

With more than 70 million euros² of net sales estimated in 2024, Tangle Teezer has doubled its size over the last 4 years, demonstrating its ability to establish its leadership and successfully build market share in a highly fragmented hairbrush and hairbrush market. combs estimated at 4.5 billion euros.

This acquisition supports BIC’s Horizon strategy by gaining exposure to a large-scale, fast-growing and profitable business with significant upside potential. BIC will leverage its exceptional capabilities in creating and distributing high-quality, value-for-money products to unlock synergies and accelerate Tangle Teezer’s next phase of growth. As part of BIC, Tangle Teezer is well positioned to achieve greater scale and gain market leadership positions in key BIC regions.

Tangle Teezer’s expertly designed products, combined with BIC’s unique business and supply chain capabilities, will continue to drive long-term profitable growth.

Gonzalve Bich, CEO of BIC, said: “Today marks a new chapter for BIC. We are excited to acquire a leading company in a dynamic, high-growth market where we can generate value. Both companies share a deep spirit of joy, innovation, entrepreneurship and a common vision for growth. With a consumer-driven approach, together we aim to redefine personal care by creating personalized hair care solutions that enhance daily routines. Our strategy is to build long-term trust by offering quality products that provide simple solutions to enhance personal care experiences.. We proudly welcome Tangle Teezer
at the BIC.

James Vowles, CEO of Tangle Teezer, said: “At the heart of Tangle Teezer’s success for over 17 years has been our focused approach to delivering an unrivaled product, driven by innovation and fueled by strategic brand development. We thank Mayfair Equity Partners for their support in helping the company accelerate these initiatives and supporting our ambitious growth journey. When considering potential partners for the next stage of Tangle Teezer’s growth journey, BIC stood out. With a shared set of values and vision, BIC has built an impressive global brands business by understanding consumer needs and developing products that are safe, affordable, easy and simple to use. This is an exciting time for the Tangle Teezer brand, now part of the global BIC Group, and I look forward to continued innovation and growth for the brand and its consumers.

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About BIC

World leader in stationery, lighters and razors, BIC brings simplicity and joy to everyday life. For 80 years, BIC’s commitment to providing high-quality, affordable and reliable products has made BIC a symbol of reliability and innovation. With a presence in more than 160 countries and more than 14,000 employees worldwide, BIC’s portfolio includes iconic brands and products such as BIC® 4-Color, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load, EZ Reach®, BIC® Flex, Soleil® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indices, BIC is also recognized for its constant commitment to sustainable development and education. To learn more, visit www.entreprise.bic.com and to view the full range of BIC products, visit www.bic.com. Follow BIC on LinkedIn, Instagram, YouTube And TikTok.

About Tangle Teezer

Launched in 2007 as the world’s first professional detangling tool, Tangle Teezer is a British company that designs an award-winning and unique range of patented brushes that enable customers to better manage long-term hair health with less damage and breakage. . The first and signature product, a detangling hairbrush called “The Original” eventually achieved cult popularity and received the Queen’s Award for Innovation in 2012 and International Business in 2014, as well as the Sunday Times Fast Track 100 in 2013 and 2016. Today, Tangle Teezer is sold in 70 international markets . As of 2021, Tangle Teezer is owned by Mayfair Equity Partners.

¹ The local currency amount represents £165 million (the GBP/EUR exchange rate at the time of closing was 0.83)
² Representing over £60 million in local currency (at 0.83 GBP/EUR)

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