JML acquires consumer goods start-up in £2.3m deal
JML has acquired health and beauty goods start-up Brand Evangelists in a deal worth £2.3 million.
The consumer goods brand and multichannel retailer has acquired a 51% stake in Brand Evangelists, which specialises in health and beauty products aimed at a young demographic.
JML chief executive Ken Daly (pictured) said: “This acquisition is complementary to JML in that we share the core principle of products that require demonstrations and have mass appeal. However, the key differentiator is that Brand Evangelists market their products primarily through social channels. We intend to utilise the expertise of Brand Evangelists to strengthen our social media marketing and reach a whole new audience.”
Brand Evangelists is headed up by Mark Curry who is a former senior buyer at Boots. Patrick Leahy, chief financial officer at JML, said the leadership at Brand Evangelists was a major reason for the deal.
He added: “As a board, we were very impressed with Brand Evangelists’ management team. At JML we have a strategic plan to double our sales in the next three years, and it was clear to us that Brand Evangelists share the same level of ambition that we do.”
JML said the Brand Evangelists product range will continue to be sold under the Brand Evangelists brand follwoing the acquisition.
