Concierge Technologies’ US subsidiary Kahnalytics has purchased hair and skincare business Original Sprout.

As part of the transaction, Original Sprout’s assets were acquired for a purchase price of $3.48m, which is subject to certain adjustment provisions and staged payments.

Kahnalytics paid the purchase price in cash with funds advanced by Concierge Technologies under an interest-free loan.

“Original Sprout’s assets were acquired for a purchase price of $3.48m.”

Following the deal, Kahnalytics has started operations from its San Clemente location in California.

Concierge Technologies COO and Kahnalytics president David Neibert said: “We have been working to close this transaction since first signing a letter of intent on 1 May 2017.

“As a wholly-owned subsidiary of Concierge Technologies, Original Sprout will further benefit from our attention to bottom-line profitability and access to additional resources for marketing outreach and product development.

“The current staff of Original Sprout will remain with the company and, over-all, the transition will be a seamless event for our customers.”

Founded in 2003 by hair stylist Inga Tritt, Original Sprout is engaged in the manufacture and sale of organic, all natural, non-toxic, baby shampoo, adult hair and skincare products, bath, skin, and sun creams.