King of Shaves valued at £25m

SHAVING paraphernalia firm King of Shaves has been valued at almost £25m after selling an increased stake to Japanese investor Kai Industries.

The blade manufacturer tripled its holding from seven per cent to 21 per cent, according to the Sunday Telegraph.

Kai and King of Shaves have had a successful relationship in the past, with Kai helping to develop the popular Azor manual razor.

King of Shaves also announced a licensing agreement with Remington to sell a new range of branded electrical products through Argos.