Home / Business and Economy / Apprentice Winner Buys Out Lord Sugar
Apprentice Winner Buys Out Lord Sugar
19 Dec
Summary
- Tom Pellereau bought Lord Sugar's 50% stake in Stylpro.
- The deal occurred 14 years after Lord Sugar invested.
- Stylpro is a fast-selling electrical beauty-tech brand.
Tom Pellereau, the winner of The Apprentice, has completed a buyout of Lord Alan Sugar's 50% share in their joint venture, Stylpro. This move consolidates full ownership of the electrical beauty firm under Pellereau, marking the end of a 14-year business partnership that began with Lord Sugar's £250,000 investment.
Pellereau, who now continues as CEO, stated the buyout represented a significant return for Lord Sugar. He conveyed deep gratitude for the initial investment, knowledge, and guidance received, reflecting positively on their shared journey over the past decade and a half.
Lord Sugar acknowledged Pellereau's evolution from a novice inventor to the head of a prominent UK beauty-tech brand. He expressed confidence in Pellereau and his team's ability to propel Stylpro to further success, deeming the current moment opportune for their separation.
