ADA Cosmetics International has completed its acquisition of British hotel cosmetics supplier, Pacific Direct for an undisclosed sum.
The contract was signed with Primary Capital Partners on September 3, 2015, and there is an agreement of non-disclosure regarding the acquisition price and other details of the transaction. The acquisition takes retroactive effect on March 31, 2015.
The annual revenue of ADA’s global business is expected to increase to approximately ¬100m (approximately £73.51m) as a result of the acquisition.
Founded in 1991 in Bedford, England, Pacific Direct produces premium cosmetics products and accessories for luxury hotels, cruise liners and airlines. Currently, the company generates approximately a third of its revenue in Asia and the Near East, another third in Great Britain and approximately 20% in the USA.
“Pacific Direct and ADA are a perfect match,” says ADA CEO Wilhelm Könning. He continues: “Pacific Direct’s luxury brands will be a perfect enhancement to ADA’s established product portfolio. At the same time, we will provide access to new customers and contacts. International hotel chains, in particular, will benefit from the pooling of our market know-how, as well as from optimisations in service and sales.
George Allan, CEO of Pacific Direct, says: “Pacific Direct has built a strong position in the premium hotel cosmetic products market. We are delighted to have found an established partner in ADA Cosmetics that will help further the development of Pacific Direct with its industry expertise and innovation capability.”
The acquisition of Pacific Direct is already the second company purchase by ADA this year. In April, the German company acquired the Scandinavian market leader Scanamenities, located in Denmark.