Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:NEWS RELEASE
Cautionary Announcement
Flame Tree Group acquires SuzieBeauty brands as it ventures into personal care prestige portfolio
Nairobi, 25 January 2016 – Flame Tree Group (NSE: FTGH) has today signed an agreement to acquire SuzieBeauty line of colour cosmetic brand, a leading colour cosmetic brand in Kenya, subject to approval from the Competition Authority. The acquisition will position Flame Tree Group as a key player in the niche colour cosmetic prestige segment. Suzie Wokabi the founder of SuzieBeauty will also join Flame Tree Group as the Creative Director for the prestigious cosmetic segment.
Flame Tree Group CEO Heril Bangera says, “We are delighted to add the SuzieBeauty
colour cosmetics brand to be part of our premier colour cosmetics portfolio. SuzieBeauty enjoys an outstanding reputation within its category and incredible awareness among beauty professionals and consumers alike. It has a loyal following that gives it excellent potential for expansion. It will wonderfully complement our brands in the cosmetic category. We look forward to working with Suzie and her team to continue growing the brand. We also see this as a highly earnings-accretive acquisition for our shareholders.”
Flame Tree Group has been realigning and refocusing its product portfolio for its
cosmetics category for both skin care and hair care. It recently acquired four brands from Beauty Plus Trading East Africa as it seeks to tap into the growing popularity of local haircare brands within the mass-market.
Suzie Wokabi founder of SuzieBeauty says, “We’ve always looked for opportunities to
reach more people with our unique proposition on beauty, working with Flame Tree Group,
we can broaden our reach and significantly grow our brand while remaining faithful to the founding principles of SuzieBeauty. There is a very bright path ahead and I am excited to work with Flame Tree Group to share our products with more Kenyans.”
George Theobold Chairman of Flame Tree Group says, “SuzieBeauty is a company
founded on strong values and common beliefs shared by Flame Tree Group and being a
niche brand it has an added advantage of a more personalised offering with unique
features and benefits and we believe that it will help in our strategy to diversify and build a portfolio of premium-positioned niche cosmetic care brands.
SuzieBeauty brands are sold in locations that have beauty care professionals who can
provide advice on how to address cosmetic colours and products that are best suited to
your individual skin types and other skin conditions that SuzieBeauty are designed to
tackle.
The shareholders of the Company and the public are therefore advised to exercise caution when dealing in the shares of the Company. Further details will be provided in due course.
-ENDS Pesa Nane plans to be shilingi when he grows up.
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