Revolution Beauty Acquires Medichem Manufacturing For £23m
Revolution Beauty Group has completed its acquisition of Medichem Manufacturing for £23 million, as part of its aim to expand the beauty brand.
Medichem Manufacturing is Revolution Beauty’s first acquisition and will provide the group with its own, in-house and vertically integrated manufacturing business.
The acquisition allows the group to increase control of its supply chain, enhance margins and productivity.
Medichem is a long-standing supplier of haircare and skincare products to Revolution Beauty, manufacturing all products from its UK facility. During its last financial year, Medichem reported revenues of £13 million, prompted by a growth in Revolution Beauty’s haircare and skincare categories.
Adam Minto, CEO and Co-founder of Revolution Beauty Group, said: “The intention to acquire Medichem was disclosed at the time of our IPO and I am pleased to announce that we are delivering against our strategy and exercising our option to acquire this highly-complementary manufacturing business.
"By vertically integrating Revolution Beauty in this way and taking manufacturing in-house for the first time, we will have even more control of our supply chain, allowing us to improve productivity, our cost base and margins, while being earnings accretive.”