Thomsons has acted for McPherson’s Limited in two recent acquisitions that will deliver on its strategy to further diversify its business through expansion in two of its key divisions: health & beauty and home appliances. Both acquisitions will be effective from 31 October 2013, and will be funded from existing facilities.
The first acquisition sees McPherson’s acquire the iconic skincare brand Dr LeWinn’s and beauty treatment brand Revitanail from iNova Pharmaceuticals. These acquisitions add to McPherson’s existing suite of brands in the beauty sector, including Manicare, Lady Jayne, Swisspers and Moosehead, assisting them to become a leading player in this space. The acquisitions will bring McPherson’s annual net revenue in this space to more than $20 million, a boost of about 20%.
In the second acquisition, Home Appliances Pty Limited (a division of McPherson’s) has acquired the assets of the “Think Appliances” business, and the Baumatic brand in Australia. Home Appliances is a leading supplier of appliances to the Australian market: it owns and distributes the Euromaid, IAG and ARC cooking ranges, and is exclusive agent for the Fagor and Elica brands. Think Appliances has annual net sales of $30 million, and owns and distributes the Baumatic, Venini and Damani brands in the retail, plumbing and commercial market. This suite of brands will be a great complement to the existing Home Appliances business. McPherson’s aims to create a world class appliance business with combined sales in excess of $100 million in 2014, and this acquisition takes them a step closer to reaching that target.