Mayborn experiences strong growth and completes refinancing to support future expansion plans
- Significant growth in 2012 with revenue in the 10 months to October 17% ahead of prior year
- Experienced strong performance since 3i’s investment in 2006, doubling EBITDA and significantly deleveraging
- Tommee Tippee is now a top 5 global player in the baby accessories market and is the UK’s leading baby accessories brand with a fast growing international presence
- International business now accounts for 60% of revenues, with the US representing over 20%
- Strategy to further build international presence in Australia, key Continental European and Emerging markets where we can leverage multi channel category management and innovation
- Refinancing provides £90m of total new facilities and builds a solid foundation for future growth
- Strong support from a high quality syndicate of banks comprising both existing and new lenders to the business including Bank of Ireland, Barclays, GE Capital, ING, Lloyds and Santander.
On the back of strong performance over the past year, Mayborn, the leading manufacturer and distributor of baby products under the Tommee Tippee brand, has successfully refinanced its debt to enable the company to continue its expansion through international growth and the launch of new products.
Mayborn has significantly grown its international sales, with the US now representing over 20% of total revenues after only 3 years of trading. Mayborn has also seen strong growth in the Far East and Eastern Europe and resilient trading in the UK retaining a significant leadership market share. In the coming year, the company plans to drive further International growth through a mixture of direct sales activities and through partnerships with local distributors.
The company has embraced the trend of mothers becoming more digitally savvy by investing in its website and digital capability, and Mayborn now has a strong multi channel category management offering. Furthermore, Mayborn remains focused on innovation, with a number of exciting new products due to launch in the next 12 months.
Steve Parkin, CEO of Mayborn commented: “We are delighted with our performance over the last year. Over the past 10 months, our sales have grown by 17%, with a particularly strong showing from the US where we first launched in 2010. Our international presence and multi channel offering have enabled us to deliver a strong performance.”
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About Tommee Tippee
Tommee Tippee is the number-one brand of infant and toddler feeding products in Great Britain and one of the top brands of infant products and accessories in the global market. Loved by parents and children alike, Tommee Tippee has received numerous brand accolades in Great Britain, including top ranks in the prestigious Mother and Baby Awards, a head-to-head assessment of competitive products voted on by moms themselves. The Tommee Tippee Closer to Nature® line of baby bottles has been chosen as Great Britain’s best baby bottle, winning the Gold award in 2006/7, in 2008/9 and again in 2009/10. In 2009, 2010 & 2011 Tommee Tippee was the first and only children’s feeding brand to be selected as a UK Superbrand in a nationwide poll of consumers, putting it on par with brands such as Microsoft®, Coca-Cola®, Nike®, Lego® and Google®.
For more information on Tommee Tippee and its products, please visit www.tommeetippee.co.uk, or find us on Facebook and Twitter at Tommee Tippee UK.