Arran Aromatics raises £2.8m from Business Growth Fund to support expansion
Business Growth Fund has provided growth capital to back the Scottish toiletries manufacturer.
Arran Aromatics manufactures luxury toiletries and lifestyle products from its base on the Isle of Arran. The business controls its entire product lifecycle from design to distribution and exports to over thirty countries.
Arran Aromatics has secured a growth capital investment of £2.8m from Business Growth Fund. The funding will support brand development, IT infrastructure upgrades, retail estate expansion, and e-commerce capabilities.
Founded in 1988, the Scottish toiletries manufacturer plans to increase its retail store portfolio and expand its global footprint. The company has also appointed Alastair Kerr as its new chairman as part of the transition.
Business Growth Fund has taken a minority stake in the business as part of the transaction. Duncan Macrae from Business Growth Fund will join the company board.
From the founder
"Everyone working at Arran Aromatics is deeply passionate about the brand and incredibly proud of its global recognition. After the hard work by all of our employees over the past four years, there is a new confidence in the business. BGF’s growth capital investment will go towards brand development, upgrading our IT infrastructure, investing in our retail estate and allow for a significant investment in our e-commerce capabilities to drive our online business."
Iain Pittman
Chairman at Arran Aromatics
Investor perspective
"Iain and the team at Arran Aromatics have done a tremendous job in stabilising the business and positioning it for growth. The company’s heritage, quality product offering and strong work ethic have created a very attractive investment proposition for BGF. The brand has broad consumer and trade appeal with extensive international opportunities and with appropriate investment and support, the company can maximise its inherent potential. The appointment of Alastair to work alongside Iain and his management team is hugely exciting for all those involved in the business."
Duncan Macrae
Investment Director, Business Growth Fund
Use of funds
- 01Build out infrastructure
- 02Accelerate go-to-market
Investors
Categories
About the company
Arran Aromatics
Arran Aromatics produces luxury toiletries and lifestyle gifts.