Tue, 03 May 2016 | BUSINESS SALE
Chinese insurance giant Ping An has bought popular baby product company Tommee Tippee from UK private equity group 3i for around £300 million.
The Mayborn Group, which was previously owned by 3i, makes Tommee Tippee baby products, the UK and Australia’s most popular brand of baby feeding bottles. A spokesman for 3i said the private equity firm will make around £135 million from the deal — representing three and half times its investment.
Mayborn has increasingly focused on the export market over the last 10 years, with China set to be a major interest under its new owners. The British business currently makes around 60 per cent of its £130 million revenue from overseas markets.
Alan Giddins, a partner at 3i, said of the deal: “Since the take-private of Mayborn, the transformation of the company from being largely UK focused into a market leading global business has been significant.”
The baby product company recently unveiled its Perfect Prep device, which enables parents to sterilise and warm milk with a single push of a button. This product has been earmarked by Fosun for success in the Chinese market, which is increasingly tech savvy.
The deal is the most recent British firm to be acquired by a Chinese company. Just last year, Chinese firm Fosun bought out fellow UK baby brand Silver Cross, which makes prams.
For more information, see the Business Sale Report’s wide range of resources on buying a business.
The company offers an aluminium design, fabrication and installation service, specialising in aluminium windows, doors and curtain walling systems. The company works closely with a number of prestigious suppliers and subcontractors in order to provid...
The company provides a diverse range of solutions to clients across the healthcare sector, including temporary staffing, supported living, and complex care. To complement its core services, the business has developed its own app, enabling healthcare...
The company offers the hire of a wide range of high-quality, modern plant, access, and tools regionally. Priding itself on its outstanding customer service and large, loyal client base, the company also provides training for IPAF courses through an e...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.