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Knowlton Development to acquire Swallowfield’s manufacturing business for £35 million

Fasken
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Client

Knowlton Development Corporation (KDC)

On July 15, 2019, Knowlton Development Corporation, a leading value-added partner to beauty, health and personal care brands, announced it has entered into a conditional agreement to acquire the Manufacturing business and associated assets of Swallowfield plc, an established leader in the personal care and beauty space, for a total cash consideration of approximately £35 million, subject to adjustment for the working capital of the Manufacuring business at the date of completion.

Following its acquisition, Swallowfield plc will retain the owned brands division under the ownership of the PLC and is expected to change its name to Brand Architekts Group plc. The entire manufacturing business and associated assets will be owned by Knowlton Development Corporation (KDC) and operate as KDC/ONE Swallowfield. At closing, all employees within the manufacturing business will transfer to KDC/ONE.

A Fasken team led by Martin Racicot including David Rimock, Caitlin Rose, Alexandra Lazar and Carolina Fusco acted as a Canadian counsel to Knowlton Development Corporation in connection with the bank financing related to this transaction.

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