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Manscaped considers trimming options as it explores alternatives: Bloomberg
Posted on Wednesday, 21 October 2020 13:56
Manscaped is planning to conduct a strategic review that could value the men’s grooming products business at over USD 500.00 million, Bloomberg reported, citing people familiar with the matter.
According to the sources, the options could include a sale of the company as a whole, in parts, and possibly a fundraising.
The business is working with an advisor on the exploration of alternatives, with one person suggesting the value could reach USD 700.00 million.
San Diego-based Manscaped is known for its ‘below-the-waist’ grooming and hygiene products, some of which are named the Lawn Mower and the Weed Whacker.
Founded in 2017, the group reportedly has annual sales of around USD 100.00 million and has recently announced partnerships with the National Football League’s San Francisco 49ers and mixed martial arts business Ultimate Fighting Championship (UFC).
Manscaped has been planning its expansion for some time and expects to enter into 30 European countries, including France and Germany, by the end of the week.
Paul Tran, chief executive of the group, told Bloomberg the business continues to focus on maintaining growth and scaling the company.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 211 deals worth an aggregate USD 10.53 billion targeting toilet preparation manufacturers announced worldwide in 2020 to date.
Both volume and value are down slightly from 336 deals worth USD 26.86 million in 2019; however, there are still two months until the end of the year.
In the largest of these, Kohlberg Kravis Roberts & Co has agreed to acquire Netherlands-based Coty International Holdings for USD 4.30 billion.
Other targets have included Hindustan Unilever, KKW Beauty, Officina Profumo Farmaceutica di Santa Maria Novella.
© Zephus Ltd