St Tropez, the UK’s No. 1 self tanning brand, has joined forces with one of the UK’s leading private equity providers, LDC in order to capitalise on the huge global demand for self tanning products.
Distributing all over the world from a number of international outlets, St Tropez has seen massive growth and development in the UK and is looking to replicate this success in the North American and European markets in order to further accelerate growth.
The deal marks a partial disposal by the founder shareholders, with the additional funding enabling St Tropez to mirror its success in the UK worldwide, through further investment in new product development, sales and merchandising.
The new financial structure underpins the partnership between the founder shareholders of St Tropez and the new management team who will work closely with LDC to enable the company to develop its global brand and geographical reach.
Founder shareholder, Judy Naake, will continue to be the ‘face’ of St Tropez and said: “This provides us with a fantastic opportunity to exploit St Tropez’s market leading position in the spray tanning market, which continues to define the tanning industry. Combined with the new financial structure and management team, this provides us with a superb platform as we enter the next phase of our development.”
Spearheading this development will be St Tropez’s UK Managing Director, Steve Oakes who will be joined by Colin Houlihan as Executive Chairman, who takes responsibility for the continued development of business strategy. Oakes said: “The company now plans to extend the reach of the St Tropez brand both in the UK and overseas. Our aim is to continue our expansion, especially in North America and Europe, while continuing to penetrate more deeply into the UK market, which still offers significant growth potential”
“Complementing this development will be further investment in new products and a strengthened management team which will bring valuable fresh impetus to the business. We are delighted to have LDC on board to assist and propel the St Tropez brand to the next stage of its development.”
Mark Freer, investment director at LDC Nottingham comments: “St Tropez represents a high profile, high quality investment for LDC. As the leading self tanning brand, with an item selling every ten seconds around the globe, there is tremendous scope for continued expansion and development, not only in the UK but worldwide. There is a highly committed management team, with whom we are delighted to be in partnership.”