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Portmeirion Group Acquires AromaWorks London Home Fragrance Products Brand
Monday 15 August 2022

UK-based homewares designer, maker and distributor Portmeirion Group plc (LSE: PMP) has acquired the AromaWorks London brand, intellectual property and certain stock, trade and assets with no ongoing liabilities from AromaWorks Ltd, the group said.

AromaWorks manufactures a range of home fragrance products using essential oils in the health and wellbeing category with a retailer customer base in the UK and US.

The total consideration of GBP 0.44m (USD .53m) for the intellectual property, inventory and certain fixed assets is payable in cash and has been financed from the group's existing cash resources.

For the year ended 31 December 2021 (unaudited), AromaWorks had sales of GBP 4.1m and a headline profit before taxation of GBP 0.3m.

Portmeirion said the acquisition will add further scale to its existing home fragrance business, Wax Lyrical.
Details
Date Published: 15/08/2022

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