Cussons snaps up St Tropez tan brand
St Tropez, based near Nottingham, sells self-tanning products mainly in the UK and Australia and posted pre-tax profits of 7.4m on revenues of 20.7m for the year to the end of July.
PZ Cussons said the deal would complement the The Sanctuary business it bought in 2008, which includes a spa in Covent Garden as well as a line of personal care products.
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Hide AdIt hopes to exploit the St Tropez distribution network - which includes Boots, Superdrug, Debenhams, Sainsbury's and John Lewis - to sell its Sanctuary range.
Graham Jones, an analyst at Panmure Gordon, said the move was an "excellent acquisition done at an attractive price".