Swallowfield to begin trading under new name this week
today Aug 27, 2019
Swallowfield is to start a new chapter as an owner of makeup and beauty brands this week when it begins trading under its new name, Brand Architekts Group plc and a new ticker, BAR on 28 August.
The move follows the sale of the company’s manufacturing business to Knowlton Development Corporation Inc to focus on its owned brands business.
Swallowfield successfully completed the £35 million transaction on Tuesday, according to a press release.
The growing portfolio of owned brands, which includes Dirty Works, MR, Kind Natured, The Real Shaving Company, Argan+ and Dr Salts, will become the entire focus of the Teddington-based business.
These brands generated 26% of the group’s revenues in 2018, and are stocked in leading retailers including Sainsbury’s, Tesco and Superdrug.
Commenting on the name change, Brendan Hynes, chairman said: “This marks a significant milestone in the development of the group. With a single-minded focus on owned brands, this transformational strategy provides clear growth opportunities with superior financial returns. The creation of Brand Architekts Group plc will enable us to maximise value for our shareholders.”
The company has also recently began recruiting for a new finance director to replace Matthew Gazzard, and a new sales and marketing director to replace Jane Fletcher. Both Gazzard and Fletcher will leave the group and step down as directors of the company with immediate effect.
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