Beauty product company Grace Cole snags BGF investment
Investment will support Cheshire firms expansion into new global markets and diversification of its product range
Grace Cole, a Cheshire-based bath and body product brand, has received a multi-million pound capital injection from the Business Growth Fund (BGF).
Founded by Tracy Mort in 2007, Grace Cole designs and produces a range of branded bath, body and beauty products including shower gels, body scrubs and hand lotions.
As well as being listed in a number of major retailers and pharmacies including House of Fraser, John Lewis and Lloyds, the company exports to more than 80 countries worldwide and has recently seen rapid sales growth in Japan and Saudi Arabia.
The investment will fuel Grace Cole’s entry into new global markets and drive sales in existing markets such as the US, Europe and the Middle East. It will also be used to accelerate the diversification of its product range.
Mort commented: “We have created an efficient model of design, production and distribution, developed strong retail relationships and secured a loyal customer base.
“Having built a great foundation for the business, we are now excited to scale-up our operations even further with BGF’s financial backing. We wanted to bring on board an investment partner that would be supportive but non-controlling, and as such BGF’s long-term, minority approach was the right fit.”
Neil Inskip, investor at BGF, said: “In less than nine years, Grace Cole has grown from start-up to a business with product ranges selling in more than 80 countries worldwide. This is a significant achievement and testament to talent and ambition of Tracy and her management team.”