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Silverwood Brands PLC on Friday said that it has agreed to buy Cosme Science Corp, a Japanese beauty products manufacturer, from its parent company Hokkan Holdings Corp.
Silverwood is a holding company established to invest primarily in branded consumer businesses. Its shares last traded at 25.00 pence each on Aquis on September 20.
The acquisition, which is for an undisclosed price, also includes Cosme’s wholly-owned subsidiary, Dr Baeltz, a skincare and self-care brand. The buy will be conducted through Silverwood’s Japanese subsidiary, Sonotas Corp, and is expected to close by the end of March.
The transaction, Silverwood told investors, marked a ‘significant step for Silverwood Brands and Sonotas in enhancing their research & development and manufacturing capabilities within the Japanese market’. Further information about the acquisition will be announced on closing.
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