LONDON — Could a Simple sale be on the horizon?
According to press reports here, private equity firm Duke Street has plans to sell the Simple treatment brand for more than 250 million pounds, or $408.5 million at current exchange.
“We’ve said consistently over the last nine years of private equity backing that we will always talk to businesses that express an interest in us — and this continues to be the case,” stated Simple Health & Beauty. “One of the consequences of Simple’s continued growth and success is that we now enjoy a much higher business profile than ever before. Our latest brand share makes us a very attractive business.”
In response to reports Goldman Sachs had been hired to run an auction for the brand, a Simple spokeswoman said the investment bank has been the brand’s advisor since 2008 and has worked with it on a number of projects.
Simple, which comprises skin, hair and body care products, rang up turnover of 72 million pounds, or $117.7 million, in 2008. According to the firm, Simple is the U.K.’s largest selling skin care brand in units and its third largest in British pound sales.
