UK-based investment company Silverwood Brands acquired Halal nail lacquer brand Nailberry for $10.4 million.
WHO: Based in the UK and founded in 2013 by Sonia Hully, Nailberry built the brand based on a hero formula, L'Oxygéné, which uses on a patented breathable technology that keeps nails healthy without compromising color, shine, or longevity. Their nail polishes are vegan, cruelty-free, and halal.
Silverwood Brands is a publicly listed business focused on identifying investment opportunities through the established network of its directors within, but not limited to, the food, organic food, wellness, lifestyle, and leisure sectors. The company intends to develop a diversified portfolio of consumer-facing brands and businesses, from established brands to smaller ventures.
WHY: Although the current economic conditions are difficult, Silverwood Brands believes that Nailberry has significant opportunities for growth both in the UK and internationally.
IN THEIR OWN WORDS: Andrew Gerrie, Executive Director of Silverwood Brands, said, "We are looking forward to working with Sonia and the team at Nailberry to build the brand. We are very optimistic about the future of the business."
Chief Executive Officer and founder Sonia Hully says: "I am very excited that Nailberry is joining the Silverwood family. I personally remain fully committed to the ethical principles upon which I developed the brand and am thrilled that Andrew Gerrie and Silverwood share the same principles."
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