The group behind Carex, Original Source and Imperial Leather has bought a baby and child personal care brand for almost £40m.
Manchester-headquartered PZ Cussons has acquired Childs Farm which is based in Baskingstoke, founded by Joanna Jensen and has product lines includes bath and shower, skincare and haircare.
PZ Cussons bought c.92% holding in the business for £36.8m and has an "agreed path to full ownership" by the end of May 2025.
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Joanna Jensen has invested £3.3m of the proceeds of the sale of her interest in Childs Farm in PZ Cussons Acquisition Co Limited, an indirect subsidiary of PZ Cussons, and now holds 8.1% of the issued share capital of PZCA.
Jonathan Myers, chief executive of PZ Cussons, said: "The foundations of our new strategy 'Building Brands for life, Today and for future generations' are firmly in place and are delivering results.
"As we transition from turnaround to transformation, we are delighted to take this important step to accelerate growth in our core categories and priority markets.
"Over the past decade, Joanna and her talented team have built a category-leading brand, loved by millions of parents seeking the very highest quality products for their children.
"Childs Farm is a clear leader in sustainability, demonstrating that we share a strong ethos, as PZ Cussons journeys towards our own B Corp ambition.
"We look forward to welcoming Childs Farm to the PZ Cussons family as a Must Win Brand, and to driving the next stage of its growth both in the UK, and beyond."
For the year ended December 31, 2020, the loss before tax and gross assets attributable to Childs Farm were £900,000 and £7.5m, respectively. Reported gross revenue was £17.4m.
Joanna Jensen added: "I am incredibly proud of the brand that Childs Farm has become, and what the team at The Barn have achieved to bring natural, sustainable sensitive skincare to the little ones of Britain and beyond.
"It is clear to me that in PZ Cussons, with our shared vision for the brand and cultural fit, we have found a fantastic partner, and the team and I look forward to working with them to take the business to the next level."
