LONDON: Warpaint London PLC (AIM: W7L), the specialist supplier of color cosmetics, announced Monday the acquisition of the Barry M brand out of administration and provided a trading update for its 2025 fiscal year.
The company said it acquired the Barry M brand, including its intellectual property, stock and order book, for a cash consideration of 1.4 million pounds ($1.78 million). The deal excludes manufacturing capabilities and any liabilities. The acquisition is subject to court approval expected later Monday.
Barry M is a value cosmetics brand with distribution in more than 1,300 stores, including major retailers Superdrug, Boots, Sainsbury’s and Tesco in the United Kingdom, and Priceline in Australia. The brand also sells direct to consumers online. Barry M reported approximately 15 million pounds ($19 million) in revenue for the year ended Feb. 28, 2025.
Warpaint, owner of the W7, Technic and Brand Architekts portfolios, financed the purchase from existing cash resources. The company reported cash balances of 18 million pounds ($22.9 million) as of Jan. 31.
In a trading update, Warpaint said it expects revenue for the year ended Dec. 31, 2025, to be approximately 105 million pounds ($133.5 million), up from 102 million pounds ($129.7 million) in 2024. The figure includes a 12 million pound ($15.3 million) contribution from the Brand Architekts business, acquired in February 2025.
The company noted revenue was negatively impacted by several factors, including the closure of the Bodycare retail chain, a challenging consumer environment and stalled momentum in the U.S. market due to tariff uncertainty.
Group Adjusted EBITDA for FY25 is expected to be approximately 22 million pounds ($28 million), down from 25 million pounds ($31.8 million) in 2024. The Brand Architekts business contributed a positive Adjusted EBITDA of 0.8 million pounds ($1 million) for the year.
“We are delighted to announce today the acquisition of the Barry M brand, which is expected to accelerate our penetration into key UK retail channels,” said Sam Bazini, chief executive officer of Warpaint.
“Despite the 2025 results being heavily impacted by the very challenging macroeconomic environment seen during the year, we were pleased with the progress made in many areas of the Group,” Bazini added.
The company expects to release its full-year 2025 results in late April.