As a result of the acquisition, PZ Cussons now holds around 92% of the Childs Farm business, for a total consideration of £36.8 million (€43.8 million), with an agreed path to full ownership by the end of May 2025.
Products under the Childs Farm brand include bath and shower, skincare and haircare products, all of which are tailored for sensitive skin and fit well into PZ Cussons' strategy of 'Building Brands for life, Today and for future generations', according to CEO Jonathan Myers.
'From Turnaround To Transformation'
"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," he said.
The brand is 'highly complementary' to PZ Cussons strategy in Baby and Hygiene, Myers added, with the firm eager to both improve its leadership position n the UK as well as bolster its international potential.
"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," Myers added. "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."
'Shared Vision' For The Brand
Childs Farm was founded in 2011 by Joanna Jensen, who added that she was 'incredibly proud' of the brand that it has become.
"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," she said.
In the year to 31 December 2020, Childs Farm reported gross revenue of £17.4 million (€20.7 million), and a loss before tax of £0.9 million (€1.07 million).