Bic gains Tangle Teezer for €200M to accelerate growth in hair care sector
Bic has acquired Tangle Teezer, a detangling hair care company, for approximately €200 million (US$210.36 million).
Tangle Teezer is known for its specific hair brush style, which is designed with a patented range of brushes. It is said its products enable consumers to detangle hair while limiting damage.
The hair care brand says it has an established position in Europe and North America, and it is a market leader in the UK and a growing player in the US.
James Vowles, CEO of Tangle Teezer, says: “At the heart of Tangle Teezer’s over 17 years of success is our focused approach to providing an unrivaled product, driven by innovation and fuelled by strategic brand development.”
“Bic stood out when considering potential partners for the next stage of Tangle Teezer’s growth journey. With a shared set of values and vision, Bic has built an impressive global business of brands by understanding consumers’ needs and developing safe, affordable products that are easy and simple to use.”
Boost business
Tangle Teezer, headquartered in London, UK, has gained €70 million (US$73.63 million) of estimated net sales in 2024. The hair care brand doubled its size in the past 4 years. Tangle Teezer estimates the hairbrush and comb market at €4.5 billion (US$4.73 billion).
Bic is taking over the Tangle Teezer brand.Gonzalve Bich, CEO of Bic, says: “We are excited to acquire a market-leading business in a dynamic, high-growth market where we can drive value.”
“With a consumer-first approach, together we aim to redefine personal grooming by creating personalized hair care solutions that enhance daily routines. Our strategy is to build long-term trust by offering quality products that provide simple solutions to enhance self-care experiences.”
Bic says the acquisition supports its Horizon strategy as it gains exposure to a “scaled, fast-growing and profitable business.” The French manufacturing corporation, popularly known for its lighters and pens, believes it will accelerate Tangle Teezer’s next growth phase.
“Tangle Teezer is well positioned to reach further scale and gain market-leading positions in Bic’s key regions. Its expertly designed products, combined with Bic’s unique commercial and supply chain capabilities, will continue to drive long-term profitable growth,” says Bic.
