June 2021 Spray 31
Mergers & Acquistions
Aerosol rubber seal manufacturer Avon Group has made two recent
acquisitions, which include Scandura Ltd., a Corby, UK-based gasket
maker, and Edgewest Plastics (UK) Ltd., a Cheltenham, UK-based
manufacturer of plastic-molded plumbing and bathroom components.
Terms of the deals were not revealed. Both firms will continue
to operate as autonomous companies and will retain their employees,
equipment and premises, Avon Group said.
UK household cleaning brand Fabulosa plans to expand after
securing extra funding from Instarmac Holdings, the maker of the
brand’s aerosol container, according to KamCity.com. The
deal includes Instarmac gaining a 20% share in Fabulosa.
Instarmac Holdings’ Sales Director Paul Butcher will also join
Fabulosa’s Board of Directors. The agreement is expected to
enable synergies between Fabulosa and Instarmac Holdings’
facility Aztec Aerosols. Instarmac Holdings will also
purchase a state-of-the-art aerosol filling line for £1.5
million ($2.07 million) and build a £0.5 million ($0.7
million) warehouse to accommodate the brand’s need
for more capacity, according to the report.
Spectrum Brands Holdings, Inc. is acquiring For Life
Products, LLC, the maker of Rejuvenate branded cleaning,
maintenance and restoration products and aerosols, for approximately
$300 million. Rejuvenate will join the Spectrum
Brands Home & Garden division with complementary
products.
Unilever is buying Austin, TX-based holistic wellness
company Onnit. Terms of the deal were not
revealed. Onnit will continue to be based in Austin
and led by CEO Jason Havey. Founder Aubrey Marcus
will remain a Brand Ambassador.
The Board of Directors of L Brands, Inc. approved a
plan to separate the company into two independent,
public companies: Bath & Body Works (BBW)
and Victoria’s Secret. The spin-off will enable each
company to maximize its management focus, have
financial flexibility and deliver growth. BBW will
continue to sell fragrances for the body and home.
Victoria’s Secret will continue to sell women’s personal care and
beauty products, as well as apparel via the Victoria’s Secret and
PINK brands. Andrew Meslow, CEO of L Brands, will serve
as CEO of BBW following the spin-off. Martin Waters, CEO
of Victoria’s Secret, will continue to lead the new standalone
business. The transaction is expected to be completed in August
2021.
Croda’s Iberchem Group has acquired French fragrance house
Parfex S.A. Terms of the deal were not revealed. Parfex will
boost Iberchem’s offerings in sustainable and natural certified
fragrances, provide a new fine fragrance creative centre in Grasse
and enhance Iberchem’s presence in the European market.
Parfex will retain its independent identity. Spray