Posted on Wednesday 12 March 2014 by Ulster Business
As part of the deal Denman will add four international hairdressing brands to its extensive product portfolio and boost its market share in the professional hairdressing sector in the US.
The four brands: Magicap, Starflite, Black Diamond and The Original Vent Brush are already well-known within the global hairdressing industry and the acquisition will enable Denman International to access additional export areas for its Bangor-made Denman-branded products, the company said.
Managing Director, Philip Steele (pictured), who is currently in San Diego overseeing the transfer of business to Denman's US subsidiary company in Boston, said: "We are delighted to have purchased these market-leading brands in what is an excellent opportunity and perfect strategic fit for our company. We have been enjoying an unprecedented period of sales growth in the United States and this positive development underpins the effort we have been making in growing our business in North America."
The products will continue to be manufactured in the US while Denman undertakes their worldwide marketing and distribution. The company, which employs 160 people, celebrated its 75th anniversary last year, and exports to 60 countries around the world.