Tangle Teezer, the British hairbrush company famously rejected by Dragons’ Den panellists seventeen years ago, has been acquired by French consumer goods giant Bic in a deal worth €200 million.
Founded in 2007 by former hairdresser Shaun Pulfrey, 63, Tangle Teezer was initially met with scepticism by investors including Peter Jones and Deborah Meaden on the BBC show. However, its brief television appearance kick-started online sales and paved the way for significant growth.
The company’s eponymous detangling brushes, designed to smooth hair with less damage than traditional tools, have become a global success. Tangle Teezer now sells its products in more than 75 countries and recorded revenues of £53.5 million in 2023, doubling its turnover in the last four years. Pre-tax profits reached £4.93 million, up 1 per cent on the previous year.
Gonzalve Bich, Bic’s chief executive, hailed the acquisition as an opportunity to expand the firm’s presence in the €4.5 billion global hairbrush and comb market. “With a consumer-first approach, together we aim to redefine personal grooming by creating personalised haircare solutions that enhance daily routines,” he said.
Bic, best known for its ballpoint pens, also has a strong foothold in beauty and grooming with its range of razors and Bodymark temporary tattoo markers. The group believes adding Tangle Teezer to its portfolio will help it tap into a dynamic, fast-growing segment of the personal care industry.
James Vowles, Tangle Teezer’s chief executive, said that in selecting a partner for the next stage of growth, Bic “stood out” thanks to its track record in meeting consumer needs with simple, affordable products.
In 2021, private equity firm Mayfair Equity Partners acquired a majority stake in Tangle Teezer, valuing it at around £70 million. Shaun Pulfrey sold the bulk of his shares at that time, having turned a fledgling idea into a multi-million-pound enterprise that overcame the early knockback from Dragons’ Den to secure a place in bathrooms worldwide.
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Tangle Teezer, once rejected on Dragons’ Den, sold for €200m to Bic