M&As this week: S H Kelkar, Palm Beach Tan, BGF

S H Kelkar and Company has agreed to purchase a 51% interest in Italian fragrance firm Creative Flavours and Fragrances (CFF) for €12m ($14.63m).

S H Kelkar also plans to acquire the remaining 49% stake in CFF within three years. The purchase consideration will be based on CFF’s performance.

Based in India, S H Kelkar is a fragrances, flavour and aroma ingredients manufacturer founded in 1922.

CFF generated €13.4m ($14.11m) revenue in 2016.

Palm Beach Tan has acquired the tanning salons of Solar Dimensions for an undisclosed sum.

The transaction includes all Solar Dimensions’ branded salons, excluding the Solarium salon in Alpharetta.

Following the transaction, Solar Dimensions’ salons are being renamed Palm Beach Tan.

Founded in 1990, Palm Beach has 460 salons in the US, which are operated under the brands Palm Beach Tan, Palm Beach Tan Sunless, and Planet Tan.

Solar Dimensions aims to provide better opportunities for its customers and team members. The acquisition is expected to enable Palm Beach Tan to expand its presence in the Atlanta market.

Business Growth Fund (BGF) has acquired a minority stake in Revital, a UK-based retailer of supplements, beauty and wellness products.

BGF will invest between £2m ($2.75m) and £10m ($13.78m) under the transaction.

Revital has 17 stores in the UK’s south-east region.

Also based in the UK, BGF is a private equity firm.

The funds are intended to be invested in Revital’s online channel, as well as being used to develop new products and to open more stores.