Aromatherapy Associates, the leading specialist spa and beauty products company, has been acquired by Skin City Ltd. The Consumer sector team at Arrowpoint Advisory advised the shareholders of AA on the sale.
Founded more than 30 years ago by Sue Beechey and Geraldine Howard with their pioneering use of modern aromatherapy, AA produces a range of skin, bath and bodycare products which bring together the benefits of essential oils.
Widely regarded on a global basis, AA's products have worldwide distribution through exclusive hotels and spas in over 30 countries in Europe, North America and Asia, including The Dorchester, London and Sandy Lane, Barbados. AA's products are also distributed through premium retailers such as SpaceNK, and through a direct-to-consumer online channel.
Ian Richardson and Dr. Magdy Ishak, who together previously built up and sold Covenant Healthcare for 170m, were attracted to AA by the strength and presence of the brand and its potential. AA represents the first acquisition as part of their ˜buy-and-build' growth strategy to create a personal products group.
Geraldine Howard said: “Simon and Jenny at Arrowpoint Advisory were invaluable in coming up with creative solutions to make sure the deal worked for all parties. This is a really important step in the development of AA. With 30 years' of practical experience behind us, we're glad to have found partners whose growth plans build on the company's heritage whilst expanding its global presence.”
Simon Cope-Thompson, Managing Director at Arrowpoint Advisory, explained: “Given our broader work within the health and beauty sector, we can see that AA is really well positioned within the Spa brands market. In particular, its focus on natural products, sustainable sourcing and its strong ethical credentials all support the clear brand values, and have struck a chord with consumers and professionals alike.”
With the backing of Ian and Magdy and their extensive experience, AA is well-placed to continue to grow and expand, both internationally and in the UK.”