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Scots Entrepreneur, Sandra McClumpha, Takes Over Fake BakeThe female entrepreneur who brought Fake Bake artificial tanning creams to Britain has acquired the brand’s American parent company in a deal worth more than £10m. Sandra McClumpha, who has distributed the tanning products in Britain since 2001, is buying the rights to the brand from founders Joe and Mary Cooper and will control distribution in Fake Bake’s home US market. Funding for the deal is being provided by a combination of bank debt and an investment from an unnamed high-net-worth individual. McClumpha will be the single biggest shareholder, and the enlarged group will have annual sales of over £10m. Fake Bake, founded in 1998, has enjoyed tremendous success with the England soccer Wags and celebrities such as pop band Girls Aloud. Before getting involved with tanning products, McClumpha ran a nail salon. She sold that to provide the time and capital to promote Fake Bake in the UK. Another female beauty products entrepreneur, Lara Morgan, has sold her company, Pacific Direct, to Primary Capital, a private-equity firm, for £20m. Pacific is a leading supplier of toiletries and beauty products to hotels. It has licences for brands including Penhaligons and The White Company, and supplies hotels including The Lanesborough in London. Morgan founded the business in 1991 and is selling a majority stake. She will stay on after the deal is completed. Tag CloudExternal InformationAdditional InformationSub-prime debacle is not the big story...Barclay twins sitting on loss of £120m after IHG share collapse... Drilling Down: Boys and Girls Use Social Sites Differently... A Notebook’s Two Hard Drives Work Separately or as a Team... Where Am I?News Main Page - Business - Scots Entrepreneur, Sandra McClumpha, Takes Over Fake Bake |
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