A row over the sale of a 20% stake in Lush has reignited today as the cosmetics giant hit back at claims made by a company led by its former chief executive.
Silverwood Brands, of which Andrew Gerrie is an executive director, announced in December last year it had bought 19.8% of Poole-headquartered Lush - payable in Silverwood shares. But last month Silverwood hit out at Lush for declining to complete the share deal.
In a new statement today, Lush said Silverwood had “erroneously” told its investors that Lush’s board had failed to provide reasons for not transferring its acquisition of Lush shares owned by Mr Gerrie and his wife Alison Hawksley. In response, Silverwood told BusinessLive it would continue to defend its position and would be 'a constructive, critical friend of Lush'.
