Boots acquires Soap and Glory
Health and beauty retailer, Alliance Boots, have settled an acquisition deal estimated at £50 million with skincare and cosmetics brand, Soap and Glory. Boots have been a long-term commercial partner of the brand after buying a minority stake in 2011, providing strong growth and strategic support, reporting sales of approximately £100 million last year.
Boots have stated: “Following the acquisition Soap & Glory will operate as a stand-alone brand within Alliance Boots new Global Brands division lead by Ken Murphy. Alliance Boots intends to maintain the company’s strong identity as an indie brand with an entrepreneurial culture.”
Soap and Glory was founded by Canadian entrepreneur Marcia Kilgore, in 2006. Kilgore is also the brain behind footwear brand Fitflop, as well as the spa chain Bliss, which she handed over to LMVH in 2004 for a reported $25 million.
Soap and Glory are best known for their quirky, 60s-style packaging with products such as Sexy Mother Pucker plumping lip gloss and The Righteous Butter body butter.