PZ Cussons has acquired luxury beauty company Sanctuary Spa for £75m in cash. The company revealed the deal has it announced an 8% increase in pre-tax profits for the half-year to November 30 last year.
The maker of Imperial Leather and Carex soaps reported pre-tax profits of £32.5m, compared to £30.2m for the same period the previous year. Total revenue was up 7% at £299.5m.
Sanctuary Spa includes a range of premium beauty and body care products sold under The Sanctuary brand, which represents 70% of its revenue, and The Sanctuary Spa, a day spa based in Covent Garden.
The company says the addition of an established premium brand will bolster Cussons’ position as market leader in the skin care and washing category in the UK.
Cussons also intends to develop The Sanctuary brand’s international sales; currently over 90% of the range of bath, body and skin care products are sold in the UK and is exploring opportunities to develop The Sanctuary’s spa concept further.