Revolution Beauty Group’s subsidiary Revolution Beauty Holdings Limited has acquired the entire issued share capital of Medichem Manufacturing Ltd for total consideration of £23 million. Medichem is a long-standing supplier of haircare and skincare products to Revolution Beauty, manufacturing all products from its UK facility. Medichem’s end-to-end operations include an R&D laboratory, bulk manufacturing, warehousing and distribution, and employs more than 170 people.

It was Revolution Beauty's first acquisition, providing it with its own fully-owned and vertically-integrated manufacturing business. The company said it would lead to enhanced margins, increased control of its supply chain and enhanced productivity. Revolution said it was expecting the acquisition to be “significantly” earnings-enhancing for the financial year ending 28 February 2023.

“The intention to acquire Medichem was disclosed at the time of our IPO, and I am pleased to announce today that we are delivering against our strategy and exercising our option to acquire this highly-complementary manufacturing business,” said joint founder and chief executive officer Adam Minto.