Endless LLP acquires Arran Aromatics
Endless LLP, one of the UK's leading mid-market private equity investors has today acquired Arran Aromatics ("Arran") from its administrators.
All the employees have transferred to the new company that acquired the business and assets of Arran and all stores and operations remain open for business.
William Wellesley, the former Managing Director of Molton Brown Cosmetics prior to its sale to Kao Corporation, will join the Board as non-executive Chairman. Allan Caldwell, previously Chief Executive of Scottish Fine Soaps and a highly experienced manufacturing and retail executive, has also been appointed Chief Operating Officer.
Arran, established in 1989 by Janet and Iain Russell has grown as a luxury brand in the natural wellbeing space. With sales of £6 million per annum it operates from six retail stores in Scotland and employs over 100 people.
Manufacturing and retail operations will continue on the Isle of Arran, with the business recently launching its new "Sense of Scotland" branding to widespread acclaim from its customer base. A new "showroom" store recently opened on George Street in Edinburgh, including an area where customers can fill and personalise their own fragrances.
Andrew Russell, son of the founders and Brand Director, commented: "We are delighted to have received the investment from Endless, which has been delivered at a vital time for Arran. The investment in the brand over the past few years has positioned it well for growth across a wide range of geographies and this new investment will help us make this a reality. 'Arran, Sense of Scotland' is poised to join the best loved Scottish brands around the world and we are all very excited about the future."
Endless is an experienced retail investor, having driven the growth of The Works Stores from 200 to nearly 400 stores and includes Bathstore and The West Cornwall Pasty Company amongst its previous investments.
Francesco Santinon, a Glaswegian, led the investment for Endless and is looking forward to the future.
Said Mr Santinon: "Arran is one of those quintessentially Scottish brands that resonates with consumers around the world. We are delighted to be working with the Russell family to continue the progress of recent years of establishing Arran on a global stage and expect to be announcing more retail stores in the future.
"Due to the growing pains experienced over recent years it became evident that Arran required further investment that has now been secured as has the future for its employees. Its manufacturing and retail operations will continue to operate as normal.”
The acquisition of Arran by Endless LLP was completed in seven days from the initial indicative offer. Endless was advised by Grant Stevenson and his team at law firm Burness Paull LLP and was supported by Colin Dempster at Big 4 accountants EY.