Business
Britannia Life Sciences Announces Strategic Investment in Cosmetics Lab Ltd.
Cosmetics Lab is a U.K.-based service provider to the cosmetics industry offering a full range of...
About this update from Britannia Life Sciences Inc
[{"type":"text","content":"Britannia Life Sciences Announces Strategic Investment in Cosmetics Lab Ltd.Cosmetics Lab is a U.K.-based service provider to the cosmetics industry offering a full range of new product development support and advanced manufacturing servicesBroadens Britannia's already robust service offering for new and existing clients by further vertically integrating its expertise across the value chainAdds significant operational expertise in formulation, manufacturing, ingredient sourcing, and supply chain management, providing a one-stop-shop for clients in the cosmetic and fragrance industriesToronto, Ontario and London, United Kingdom--(Newsfile Corp. - June 6, 2023) - Britannia Life Sciences Inc. (CSE: BLAB) (FSE: L020) (\"Britannia\") is excited to announce the acquisition of an initial 51% interest in Cosmetics Lab Ltd. (\"CosLab\"). Based in Horsham, in southern England, CosLab has established a 15-year legacy as a leading independent regulatory partner and manufacturer of high-quality cosmetic products for some of the world's most well-known brands and retailers. \"We look forward to working closely with Ian Dawson, Managing Director of CosLab, and his team to support the continued growth of the business, including committing resources to expand the new product development, regulatory and manufacturing offerings of CosLab,\" Peter Shippen, CEO, Britannia Life Sciences.The acquisition is expected to result in revenue synergies through the pairing of CosLab's regulatory and manufacturing expertise with Britannia's technology-driven formulation, compliance and testing platform, providing clients with an end-to-end solution for their product development and launch initiatives. Britannia expects the acquisition of CosLab to result in an increase in consolidated revenues and EBITDA of £1.5-2 million (CAD$ 2.5-3.3 million) and £300-500k (CAD$500-830k), respectively, over the next twelve months.1The ability to support clients from concept to consumer is an important principle for Britannia, and the acquisition of CosLab simplifies the go-to-market for new products while facilitating R&D and scale-up of production for companies large and small. Britannia continues to seek to expand and scale its service offering by acquiring and partnering with companies that are well-respected in their markets.\"The ability to expand our serv...