Duke Street has completed a £240 million trade sale of Simple Health & Beauty, securing a 2.7 return multiple in base currency.
The facial skincare business has been sold to Alberto Culver, a publicly listed US rival whose brands include Nexxus, Noxzema, Alberto V05 and TreSemme, at a valuation of about 11 times the company’s 2009 EBIDTA.
![]() ![]() |
Simple: Clean exit for Duke Street |
Under Duke Street’s stewardship, Simple outsourced its manufacturing and expanded its product range as well as its bottom line. Since being taken over by the London-based mid-market firm, the company’s net sales have shown an average annual increase of 15 percent, turning over £68 million last year. Simple has risen to become the number one facial skincare brand in the UK in terms of units sold, having increased it customers by 50 percent over 2 years to 5.5 million.
Duke Street is currently investing its sixth fund, closed on nearly €1 billion in 2007. It has deployed roughly 60 percent of its capital, according to the firm’s 2009 annual review.