Brand Architekts Group PLC (LSE:BAR) said an independent assessor has valued Jamie Stevens Media Limited's stake in Mr Haircare Ltd at £535,000, with the final payment to be made shortly.
In June, Brand Architekts agreed to an independent valuation as part of a settlement that will see it acquire JSML's 55% shareholding in Mr Haircare.
In a statement, Brand Architekts said after the acquisition, Mr Haircare would be relaunched as 'MR Expert Solutions' with the strategy initially to consolidate its position in the male 'Thicken and Disguise' hair care category and then expand the brand into adjacent male grooming problem-solving categories.
Shares rose 2% to 26.5p.