Home shopping company JML has taken a majority stake in start-up business Brand Evangelists in a £2.3m deal that it believes will enable it to tap into its social media marketing expertise.
The deal gives JML , a Top500 retailer in IRUK Top500 research
, a 51% stake in the business, which creates health and beauty goods for a younger demographic.
JML was founded in 1986 and specialises in retail promotions, TV home shopping and online selling.
“This acquisition is complementary to JML in that we share the core principle of products that require demonstrations and have mass appeal," said JML chief executive Ken Daly. "However, the key differentiator is that Brand Evangelists market their products primarily through social channels. We intend to utilise the expertise of Brand Evangelists to strengthen our social media marketing and reach a whole new audience."
Brand Evangelists is led by Mark Curry, a former senior buyer at Boots. Patrick Leahy, chief finance officer at JML, said Brand Evangelists' leadership was a major reason for the deal.
“As a board, we were very impressed with Brand Evangelists’ management team,” he said.
“At JML we have a strategic plan to double our sales in the next three years, and it was clear to us that Brand Evangelists share the same level of ambition that we do.”
JML said the Brand Evangelists product range will continue to be sold under the BE brand.