Portmeirion has strengthened its position in the home fragrance market by acquiring smaller rival AromaWorks out of administration. AromaWorks is a well-established brand in the UK, having also very recently broken into the USA market. Historical sales last year amounted to £4.1m (c.35% of PMP’s Wax Lyrical’s FY21 outturn) and a PBT of £0.3m in what was a Covid impacted year. The total consideration is a modest £0.44m and we anticipate a short payback period. Strategically, this is a low risk de ....
