Warpaint London, a UK cosmetics manufacturer and owner of the W7 brand, is set to acquire rival Retra Holdings after raising £21.2 million ($28.0 million) in new investment.
Retra Holdings owns the Technic, Body Collection and Man’s Stuff brands and generated revenue of £17.5 million ($23.05 million) in 2016. The firm focuses on the ‘gifting’ sector, primarily selling its products through high-street retailers and supermarket chains including Boots, Asda and Matalan.
Commenting on the deal, Warpaint joint chief executive officers Sam Bazini and Eoin Macleod said: “We are very pleased to announce the proposed acquisition of Retra. This acquisition will provide Warpaint with access to new customers and suppliers, increased numbers of product development personnel and additional exposure to the gifting market, an area of increasing focus for Warpaint”.