ghd Says its Business as Usual Following Buy-Out
February 14, 2013 10:21 AM
Professional stylists will continue to be the focus for ghd, following the high profile buy-out of the brand by investment firm, Lion Capital, promised ghd CEO, Paul Stoneham.
Said Paul: "We're delighted to welcome Lion Capital as a new partner in developing the ghd brand. As leading investors in successful consumer-facing businesses - including fashion brands All Saints Spitalfields and Jimmy Choo - the firm is a superb fit for us and fully supportive of our stylist-centric strategy and commitment to new product development.
"We have exciting plans to grow the ghd brand globally, but continue to be enormously proud of our British heritage. The ever-inspirational home of ghd is the UK and moving forward we will continue to be fully supportive of our talented stylists and salon partners with more exciting initiatives and launches already in the pipeline."
Montagu Private Equity announced that it has reached an agreement to sell Jemella Group, which trades under the ghd brand, to Lion Capital, a leading consumer-focused investment firm. Montagu acquired ghd in 2007 for £160 million.
The company's profits have more than doubled under Montagu's ownership, thanks to major expansion to distribution and product development.
Simon Pooler, director at Montagu Private Equity, said: "Our sale of ghd to Lion marks the completion of another successful investment for Montagu and we are very proud to have partnered with the company over the past six years.
"We were originally attracted by the strength of the ghd brand and its remarkable customer loyalty. We also saw excellent potential to continue its growth in international markets and great opportunity to develop its new product range and sales channels. ghd is now a truly global market leader, with an enhanced ability to innovate and grow.
Lyndon Lea, partner of Lion Capital, said: "Since its very early days, ghd has proved itself to
be an iconic brand that engenders a deep emotional attachment and loyalty amongst its customers, both professional stylists and consumers, on levels rarely achieved by even the strongest consumer brands.
"We look forward to working closely with the management team to accelerate growth in the business through increased investment behind the brand, new product development and expansion of both international and alternative sales channels, in particular online. "