Alliance Boots to acquire Soap and Glory skincare brand

Alliance Boots has agreed a deal to acquire the skincare brand Soap and Glory from its founder, the Canadian entrepreneur Marcia Kilgore.

The pharmacy giant has exercised a call option to buy the business outright after exercising an option it has held since purchasing a minority stake in Soap and Glory in 2011. Retail Week reports that the acquisition deal is valued at 50 million pounds.

Alliance Boots has been Soap and Glory's long-term commercial partner since its launch in 2006, providing distribution, sourcing and strategic support. Since then, the brand has experienced strong growth, generating sales of around 100 million pounds last year.

Soap and Glory will operate as a standalone brand within Alliance Boots' new global brands division, led by Ken Murphy, the company's managing director for health and beauty and international operations.

A statement from the company said: "Alliance Boots intends to maintain the company's strong identity as an indie brand with an entrepreneurial culture."

Alliance Boots is set to merge with its US partner Walgreens to form a new organisation called Walgreens Boots Alliance, which will be the first global pharmacy-led, health and wellbeing enterprise.