Warpaint London announced on Monday that it had acquired the Barry M brand out of administration for £1.4 million in cash, alongside a trading update.
Barry M is an established value cosmetics brand with significant retail distribution across more than 1,300 stores, including Superdrug, Boots, Sainsbury’s, and Tesco, as well as direct-to-consumer online sales. The brand generated approximately £15 million in revenue in the year ended 28 February 2025.
The acquisition will be funded from existing cash resources. Warpaint reported cash balances of £18 million as at 31 January 2026, up from £9 million the previous year, demonstrating a strong balance sheet position.
Warpaint released a trading update alongside its acquisition, announcing that it expects full-year revenue of approximately £105 million for FY25, up from £102 million last year, at an improved gross margin, including a £12 million contribution from Brand Architekts.
Although revenues increased, the group was hindered by the closure of Bodycare, a significant customer, challenging consumer conditions, and US tariff uncertainty, resulting in stalled momentum in America.
Adjusted EBITDA for FY25 is expected to reach approximately £22 million, down from £25 million in 2024, impacted by these factors.
Warpaint noted that after losing £1 million in 2024, its Brand Architekts business generated a positive Adjusted EBITDA contribution of £0.8 million in FY25 following successful integration and delivery of expected year-one synergies.
Warpaint shares were 1% higher at the time of writing.