PARIS — Bic has acquired Tangle Teezer, a premium detangling hair company, for 165 million pounds from Mayfair Equity Partners.
Tangle Teezer, based in London, was launched in 2007 and was billed as the first expertly designed detangling tool. The brand designs a patented range of brushes.
Its first brush out, The Original, gained a cult following and numerous awards, including the Queen’s Award for Innovation in 2012. Subsequently, the brand has been launched elsewhere in Europe and in North America. In a joint statement, the companies called Tangle Teezer the market leader in the U.K. and a growing player in the U.S.
Related Articles
The company’s estimated net sales in 2024 will be more than 60 million pounds. Sold now in 70 countries, it doubled in size sales-wise over the past four years in the fragmented hairbrush and comb market, which the companies estimate at 4.5 billion euros.
Bic, based in the Paris suburb of Clichy, manufactures disposable items, such as stationery, lighters, pens and shaving razors.
“This acquisition supports Bic’s Horizon strategy by gaining exposure to a scaled, fast-growing and profitable business with meaningful upside potential,” the statement said. “Bic will build on its outstanding capabilities in creating and distributing high-quality, value-for-money products to unlock synergies and accelerate Tangle Teezer’s next phase of growth.”
Under its new parent the brand is expected to scale further and gain market-leading positions in Bic’s key regions.
“Tangle Teezer’s expertly designed products, combined with Bic’s unique commercial and supply chain capabilities will continue to drive longterm profitable growth,” the companies said.
“With a consumer-first approach, together we aim to redefine personal grooming by creating personalized hair care solutions that enhance daily routines,” said Gonzalve Bich, chief executive officer of Bic, in the statement. “Our strategy is to build longterm trust by offering quality products that provide simple solutions to enhance self-care experiences.”
James Vowles, CEO of Tangle Teezer, acknowledged Mayfair Equity Partners’ help in successfully accelerating business initiatives such as brand development. The fund acquired Tangle Teezer in 2021.
The executive said Bic has built an impressive global business of brands through understanding consumers’ needs and creating safe, affordable products that are also easy and simple to use. Some other brands in the company’s portfolio include 4-Color, BodyMark, Cello and Cristal pens.