Tengram sells This Works for £43m to Canopy Growth
Tengram Capital Partners has sold natural skin care and wellness products manufacturer This Works to cannabis business Canopy Growth for £43m.
The sale ends a four-year holding period for Tengram after it appointed UK investment bank Baylor Klein to sell the asset in November.
Canopy Growth focuses on the production of cannabis products for medical and recreational use, and plans to support This Works in the formulation and release of CBD products.
Company
This Works was founded in 2003 by former Vogue UK beauty director Kathy Phillips and is headquartered in London. The company develops and ships natural skin care and sleep products to customers in 35 countries. It generated sales of £15m in 2018.
People
This Works – Anna Persuad (CEO).
More on Exits
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Ares Management handed keys to two-thirds of UK sponsor’s portfolio
Lender provided GBP 500m for three of the GP's deals between 2016 and 2019, Debtwire reported
Actera Group explores strategic options for Celebi Ground Handling
Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal
Main Capital’s Assessio to be sold to Pollen Street
Recruitment software company tripled in revenue under Main Capital’s ownership
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater