TORONTO 鈥� Bic is buying Inkbox, a Toronto-based temporary tattoo company, for US$65 million.
The stationery and shaver giant says Inkbox will broaden its portfolio, which already includes BodyMark temporary tattoo markers.
Inkbox was started in 2015 by brothers Tyler and Braden Handley, who wanted to get tattoos but feared whatever designs they chose would eventually age them.
Working out of Ryerson University's Fashion Zone, they used a plant sourced in South America to develop temporary tattoos that take about 15 minutes to apply, but are more durable than stick-and-peel varieties.
The tattoos quickly became a hit following investments from "Survivor"'s Jeff Probst and "The Biggest Loser" host Alison Sweeney, and were featured prominently in the "Stranger Things" television show.
Bic says its deal to buy Inkbox, which made about US$27 million in net sales last year, will include an upfront payment and deferred consideration based on the company's performance.
This report by The Canadian Press was first published Jan. 18, 2022.
The Canadian Press
