REG - Brand Architekts Grp - Joint Venture Settlement: Mr Haircare Limited

Brand ArchitektsAnnouncement

01/12/2023 07:00

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RNS Number : 3022V  Brand Architekts Group PLC  01 December 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 (THE "EUWA")) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Brand Architekts Group PLC

("Brand Architekts" or the "Group")

Joint Venture Settlement: Mr Haircare Limited

Brand Architekts Group plc, a challenger British Beauty brand business, were
pleased to announce on 30th June 2023, a resolution of its legal claim with
Jamie Stevens Media Limited (JSML), its joint venture
counterparty/co-shareholder in Mr Haircare Ltd. The Group agreed to a full and
final settlement of all claims and to purchase JSML's 55% shareholding in Mr
Haircare Ltd in cash at a fair value price to be determined by an external
valuer. An independent valuer was appointed and JSML's shareholding has been
valued at £535,000. Final payment will be made shortly.

The acquisition of MR Haircare is in line with the company's strategic vision
to invest and build its portfolio of high-performance, problem-solving and
margin accretive brands. The brand will be relaunched as 'MR Expert Solutions'
and the company's vision is to initially consolidate its position in the Men's
Thicken and Disguise haircare category and then expand the brand into adjacent
male grooming problem solving categories and invest in the master brand to
accelerate brand awareness and stimulate consumer trial.

 

 For further information please contact:

 Brand Architekts Group PLC

 Quentin Higham

 Singer Capital Markets      (Nominated adviser and broker)  020 7496 3000

 Shaun Dobson / Jen Boorer
 Alma PR                                                     0203 405 0205

 Josh Royston / Sam Modlin

 

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