L'Oréal finalises skincare brands acquisition from Valeant laboratories
Mar 6, 2017
French cosmetics giant L'Oréal has announced on Monday it has finalised the acquisition of three skincare brands from Canadian laboratories Valeant, for $1.3 billion (approximately €1.2 billion).
The acquisition of CeraVe (advanced skincare), AcneFree (anti-acne treatments and cleansers) and Ambi (for multi-ethnic consumers) was first announced on 10th January.
The three brands are distributed in the USA and their consolidated yearly revenue is approximately $168 million.
L'Oréal posted a decline in net income in 2016, and has decided to explore "every strategic option" available for The Body Shop retail chain, whose sales and profitability continue to slump.
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