A business founded in 1860, Napiers the Herbalists has been sold to
Samarkand Group, an e-commerce technology and consumer brand group.
The firm was established by Duncan Napier
who is a renowned herbalist. It has now become an iconic Scottish brand which
still operates from its original apothecary store in Bristo Place. It also has
an e-commerce website. Consumers can
purchase a unique blend of herbal remedies, food supplements, skincare and
wellness products. Recently, it has expanded its offerings to increase its
appeal to customers in Asian markets by collaborating with a large Korean
skincare brand and by working with Samarkand as its distributor.
The latter has had a commercial
relationship with the brand for more than three years. After the acquisition,
it intends to expand Napiers products and services in the UK and
internationally in countries such as China and others. For this mission, it
will use its technology, supply chains and benefit from synergies between the
previous wellness acquisitions of Probio7, Zita West Products and Baba West.
The deal involves an initial payment of 1.7m in cash on a net debt net cash
basis and there will be more settlements on completion.
David Hampstead, chief executive of Samarkand
Group advanced, “The acquisition signifies a clear execution of the group’s
strategy laid out at the time of listing. As we take on the responsibility of
looking after Napiers for the next 160 years
we are looking forward to bringing it to many more consumers”.
Photo credit: angelorosa from Pixabay
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