The move, which seems to confirm its commitment to the industry, comes a few months after the UK-based company acquired contract manufacturer, Expac.
ILC is a brand owner focused on the health, beauty and toiletry markets, according to GRI Group. Its offering includes beauty care, bath & body, hair care and lip care, which retail in key markets around the globe. Its brand portfolio includes I Love…, New York Professional, The Good Stuf! and Balmi.
Strategic step
Graham Royle, Chairman & CEO of GRI, says that the move is a strategic one, aimed at strengthening GRI Group’s position across the industry.
“ILC will strategically complement our group of associate companies, which offer excellent synergies to each other,” he confirms.
"The brands business takes the group further downstream from its ingredients and products manufacturing facilities and offers many new market opportunities.
"ILC enjoys a valued position with both its incredible range of suppliers and customers and from Day 1 we have already begun to implement a comprehensive strategy of growth, which will see significant product development and geographical market development. We are also targeting to acquire more brands to bring into the portfolio."
A cohesive offering
Following on from the Expac acquisition, it appears GRI Group is keen to become a dominant player across the beauty and personal care products.
At the time of that acquisition, Graham Royle, chief exec of GRI Group, told Packaging News: “A number of brand owners use our ingredients in their own manufacturing plants and will now also be able to use Expac to outsource contract manufacturing of additional product lines.”
The new acquisition of I Love Cosmetics means GRI Group now moves to offer finished products too.