In a major business milestone, Tom Pellereau, the inaugural winner of BBC's The Apprentice to secure a cash investment, has purchased Lord Alan Sugar's stake to assume full control of his beauty technology company. The deal concludes a 14-year partnership that began with a £250,000 investment from the renowned businessman.
The End of a Landmark Partnership
The original agreement, struck in 2011, was a landmark moment for the television series. Lord Sugar invested £250,000 for a 50% stake in Pellereau's venture, moving the show's format away from offering a salaried job to a genuine equity partnership. The exact sum paid for the recent buyout remains confidential, but Pellereau confirmed it represented a "significant return on Lord Sugar’s investment."
Reflecting on the journey, Lord Sugar stated: "Fourteen years after investing in Tom, I have agreed with Tom’s decision to purchase back my shares and return sole ownership to him." He praised Pellereau's evolution from a "naive inventor with ideas and drive" to the builder of "one of the UK’s fastest-selling electrical beauty-tech brands." He added that now was the right time to part ways and allow Pellereau and his team to pursue new heights.
Gratitude and a New Chapter for Stylpro
Following the acquisition, Tom Pellereau will continue as the chief executive of Stylpro. He expressed profound gratitude for Lord Sugar's initial faith and ongoing mentorship. "I will always be so grateful for the investment Lord Sugar made, and the potential he saw in me and my inventions," Pellereau said. "His time, knowledge and guidance have been invaluable."
While excited for the future as sole owner, Pellereau looked back fondly on the 14-year collaboration. "While now is the right time to regain full ownership of my business, I look back on the amazing journey we’ve taken together over the last 14 years with deep gratitude and happy memories," he remarked.
Stylpro's Market Reach
The company, Stylpro, specialises in electrical beauty technology. Its product ranges, which include popular items like LED face masks and innovative makeup brush cleaners, are now stocked by retailers across the UK, Europe, the United States, and Australia, marking it as a truly international brand born from a UK reality TV show investment.
