Napiers the Herbalists sold to e-commerce group
The herbalist has operated since 1860
Napiers the Herbalists, which was founded in Edinburgh in 1860., has been acquired by Samarkand Group, an e-commerce technology and consumer brand group.
The deal involves an initial payment of 1.7m in cash on a net debt net cash basis with further small additional payments on completion.
Established by Duncan Napier, the renowned herbalist, Napiers is an iconic Scottish brand which still operates from its original apothecary store in Bristo Place and its website Napiers.net.
It serves a unique blend of herbal remedies, food supplements, skincare and wellness products. More recently the company has increased its appeal to consumers in Asian markets through its partnership with a large Korean skincare brand and its work with Samarkand as its distributor.
Samarkand has had a commercial relationship with Napiers for more than three years and the Group intends to expand Napiers products and services in its home market of the UK and internationally in China and beyond.
The directors of Samarkand believe that Napiers is an attractive acquisition for the group and will make use of Samarkand’s technology, supply chains and benefit from synergies between the previous wellness acquisitions of Probio7, Zita West Products and Baba West.
The combined assets of Napiers generated £1m of revenue in the year ended 31 March 2021 and an EBITDA of £0.24m on an unaudited basis.
Monica Wilde, managing director of Napiers, said: “I am delighted that Napiers has found a new home in a group which can see the considerable prospects of this special brand. We are looking forward to working with the Samarkand team on the next chapter in Napiers history.”
David Hampstead, chief executive, of Samarkand Group, commented: “We’ve worked with Napiers and their team for a number of years and have always been impressed by the consumer response to the company’s story and values.
“Napiers is a one of a kind truly authentic brand with significant potential.
“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 in the UK and internationally.”