TORONTO - 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. 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.

Source: thestar January 18, 2022 22:03 UTC