NSE GEMS Listed firm, Flame Tree Group has today signed an agreement to acquire Suzie Beauty 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 Suzie Beauty will also join Flame Tree Group as the Creative Director for the prestigious cosmetic segment.
Flame Tree Group CEO Heril Bangera said, “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.”
Source; Flame Tree Group
Press Release; FTGH Ltd.- Cautionary Announcement.pdf
