Tangle Teezer, the British hairbrush company that was snubbed by Dragons’ Den panellists seventeen years ago, has been acquired by French consumer goods giant Bic in a deal worth €200 million.
Tangle Teezer, founded in 2007 by former hairdresser Shaun Pulfrey, 63, was initially met with skepticism by investors including Peter Jones and Deborah Meaden on the BBC show. However, the brief television appearance boosted online sales and paved the way for significant growth.
The company’s namesake detangling brushes, designed to smooth hair with less damage than traditional tools, have become a worldwide success. Tangle Teezer now sells its products in more than 75 countries and achieved a turnover of £53.5 million in 2023, doubling its turnover in the last four years. Pre-tax profit was £4.93 million, up 1 percent on the previous year.
Gonzalve Bich, CEO of Bic, called the acquisition an opportunity to expand the company’s presence in the €4.5 billion global hairbrush and comb market. “With a consumer-centric approach, together we aim to redefine personal care by creating personalized hair care solutions that enhance daily routines,” he said.
Best known for its ballpoint pens, Bic also has a strong position in beauty and grooming with its range of razors and Bodymark temporary tattoo markers. The group believes that adding Tangle Teezer to its portfolio will help it tap into a dynamic, fast-growing segment of the personal care industry.
James Vowles, CEO of Tangle Teezer, said that when selecting a partner for the next phase of growth, Bic “stood out” thanks to its track record of meeting consumer needs with simple, affordable products.
In 2021, private equity firm Mayfair Equity Partners acquired a majority stake in Tangle Teezer, valued at approximately £70 million. Shaun Pulfrey sold most of his shares at the time, having turned a fledgling idea into a multi-million pound venture that overcame the early backlash from Dragons’ Den to secure a place in bathrooms around the world.