12.15.22
Silverwood Brands plc, an enterprise company, has acquired a 19.8% stake in UK cosmetics retailer Lush.
Lush operates retail outlets in 48 countries and has manufacturing facilities in six nations. It produces a range of beauty and personal care products which include: creams, soaps, shampoos, shower gels, lotions, moisturizers, fragrances, scrubs, toothpaste tablets, masks and other cosmetics for the face, hair and body.
Silverwood entered into a sale and purchase agreement to acquire Lush shares, with a total consideration amounting to around 216.8 million pounds ($268.5 million).
The deal covers both Lush’s operating company LCL and CWL, which owns the rights to the brand and controls research and development.
Lush is reportedly looking to grow and future-proof its business.
“[This] should prove useful in generating new ideas to invigorate and strengthen the Lush brand,” the company stated.
The move was an effort to address consumers' mental health challenges, Lush Cosmetics stated, and the brand's global presence across these platforms "will remain deactivated until these platforms take action to provide a safer environment for users," the company said.
Lush operates retail outlets in 48 countries and has manufacturing facilities in six nations. It produces a range of beauty and personal care products which include: creams, soaps, shampoos, shower gels, lotions, moisturizers, fragrances, scrubs, toothpaste tablets, masks and other cosmetics for the face, hair and body.
Silverwood entered into a sale and purchase agreement to acquire Lush shares, with a total consideration amounting to around 216.8 million pounds ($268.5 million).
The deal covers both Lush’s operating company LCL and CWL, which owns the rights to the brand and controls research and development.
Lush is reportedly looking to grow and future-proof its business.
“[This] should prove useful in generating new ideas to invigorate and strengthen the Lush brand,” the company stated.
More About Lush
In 2021, Lush made waves by deactivating its social media accounts, including Facebook, Instagram, TikTok and Snapchat.The move was an effort to address consumers' mental health challenges, Lush Cosmetics stated, and the brand's global presence across these platforms "will remain deactivated until these platforms take action to provide a safer environment for users," the company said.
