LONDON, UK: Rapid Nutrition Plc has entered into a non-binding letter of intent to acquire FFS Beauty Limited (FFS), one of Europe’s leading female-focused shaving and beauty subscription businesses. The acquisition is anticipated to close later this year, subject to required terms and approvals.
Founded in 2015 and based in the United Kingdom, FFS has more than 90,000 active subscribers and provides eco-friendly, vegan and cruelty-free body care and beauty products with 100 percent recyclable materials to its loyal customer base.
FFS Beauty Limited boasts a three-year CAGR in revenue (FY2021 £5.1m) of nearly 25 percent with average gross margins of 39 percent and is now well positioned for international expansion. The global shaving market reached a value of £27.6bn in 2022 with the EU razor market valued at £4.93bn and the UK razor market £535.2m (source: Statista and Mintel)
Simon St. Ledger, Group CEO of Rapid Nutrition PLC said: “FFS is an ideal fit for Rapid Nutrition’s global growth diversification strategy as we continue to hone our worldwide focus on organic health and wellness products and innovations,” said Rapid Nutrition CEO Simon St. Ledger. “The self-care market exploded during the pandemic and is going stronger than ever, making these acquisitions a natural part of our corporate growth focus and initiative.”
Earlier this year, Rapid Nutrition acquired the influencer brand, The Plant-Based Bundle as part of its corporate growth strategy. In addition, the company also signed new distribution agreements in Asia and the Middle East as well as announced its new manufacturing partnership to produce the groups unique Azurene herbal formula. Final testing is currently being conducted before eventual launch now anticipated for early next year.