'Imperial Leather' soap maker PZ Cussons is to extend is consumer products range with the acquisition of the Fudge hair care brand, best known for the 'Hair Shaper' product.
PZ Cussons is paying Australia's Sabre Group £25.5m in cash for the brand and associated inventory.
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"Fudge is a natural fit for our portfolio as we continue to bring well-loved brands back to the forefront and make beauty accessible to all," said Michelle Feeney, Chief Executive of PZ Cussons's recently formed Beauty division. The other brands in the Beauty division are St. Tropez, Sanctuary and Charles Worthington.
Fudge's revenue for the year ended 30 June 2011 was £15.7m. Around half of Fudge sales are currently in the UK and Europe, with the remainder in Australia and New Zealand.
"The geographic and distribution footprint of Fudge is a perfect fit with the current brand portfolio and we see further opportunity to develop the brand's international potential," revealed Alex Kanellis, Chief Executive of PZ Cussons.
"Following this acquisition our balance sheet remains strong giving us flexibility for further investment opportunities as they arise," Kanellis added.
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