Silverwood buys £216m Lush stake

We have advised two co-owners of leading UK-headquartered international beauty and cosmetics retailer Lush on the sale of their shares to Silverwood Brands plc, an enterprise company established to invest primarily in branded consumer businesses.

Silverwood has acquired an approximately 19.8% stake in Lush for £216.8 million and will use this acquisition as a platform for further expansion into consumer businesses with a focus on health and beauty, specialty foods and other consumer focused brand sectors. Silverwood intends to hold its stake in Lush for the long-term. As an Aquis Stock Exchange (AQSE) quoted company, Silverwood will provide an opportunity for Lush customers to invest into Lush and reap the benefits of their support.

Lush is a manufacturer and seller of fresh handmade skincare goods and cosmetic products. Operating retail outlets across 48 countries and manufacturing facilities in six locations, it produces a wide range of beauty and personal care products ranging from creams and soaps to cosmetics including perfumes and face powders using only vegetarian or vegan recipes. 

Last year, Lush acquired its North American partner business which has paved the way for a substantial increase in revenue and stronger cash flows over the short-term, as well as the opportunity to expand its physical and online presence in the US and Canada.

Commenting on the deal, corporate partner Andrew McLean said: "Lush is one on the biggest brands in the beauty and cosmetics market with a well-established global presence. It has been a pleasure to advise Andrew and Alison on the sale of their shares to Silverwood, another company with great growth potential, as it continues to expand its portfolio of fast-growing consumer brands. We wish both companies every success in their growth journeys."

Andrew Gerrie, Co-founder of Lush said: "We have been very impressed with Andrew and the rest of the Taylor Wessing team for their thorough expertise and steady focus throughout the transaction. Their steadfast support and innovative approach to challenges during this complex process was unmatchable."

The deal was led by partner Andrew McLean with support from corporate associate Steph Hobbs and litigation partner Tim Strong.