LONDON — B&B Capital Partners LP, an investment fund launched last year by Alliance Boots, has acquired the British beauty brand Aromatherapy Associates, the company said Friday. The fund is managed by B&B Investment Partners, a partnership between Alliance Boots, Chris Britton and Jean-Philippe Barade. The fund hasn’t disclosed the price it paid for the business.
Aromatherapy Associates is known for its aromatherapy-based skin-care and body-care ranges, which are sold at stores such as Selfridges and Liberty and through spas, hotels and resorts. Aromatherapy Associates said its president, Geraldine Howard, would work closely with B&B Investment Partners to “strategically develop Aromatherapy Associates across its existing luxury spa market and beyond.”
Howard said of the acquisition: “Not only do [B&B Investments] share our vision for the brand, but they bring with them a huge level of expertise that will significantly help to grow the business globally.”
Alliance Boots launched B&B Capital Partners in September, with a focus on acquiring small and medium-sized consumer brand businesses within the health, wellness, beauty and personal-care sectors. The fund is managed by B&B Investment Partners, a partnership between Alliance Boots and B&B Investment Partners’ principals — Britton, who is a non-executive director of Alliance Boots and Barade, a former managing director at Morgan Stanley Private Equity.