Lyko merged with Bellbox
Undisclosed
Adviser to Lyko on its merger with Bellbox
Consumer
Sweden
Clearwater has advised Lyko, an online store for hair and beauty products, on a merger with Bellbox.
In only a few years, a hairdresser in Vansbro grew to become one of the largest online stores for hair and beauty products in Sweden. Lyko, a family business, has now taken the next step in its development and partnered with Bellbox, a previous competitor. Through the merger, a leading multi-channel retailer with a turnover of €54m (SEK 500m) was created.
Lyko and Bellbox have both individually been pioneers and leaders in the Swedish hair and beauty industry. Together, we have created a fantastic opportunity to improve further, both physically through our retail stores, and online.
The merger makes it possible to offer an exciting and complete consumer experience and a world class customer service. We will intensify our efforts to create a better company, both for our customers as well as our staff and partners.
Our main assignment was to make a valuation of Lyko and to examine Bellbox’ valuation. In our opinion, Bellbox hadn’t given Lyko a high enough valuation, so we made an assessment based on the companies' market positions and growth potential and made sure that Rickard’s figures were solid. The split we agreed upon was a huge improvement on the initial offer.
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