Colgate acquires French skin care business
FMCG multinational Colgate-Palmolive has acquired French skin care business Laboratoires Filorga Cosmétiques (Filorga) for €1,495.5 million (approximately AU$2.4 million).
The anti-aging skin care business sells products in over 60 countries including France, Italy, Spain and Greater China across pharmacies, online stores, specialty stores and travel retail.
The acquisition is part of Colgate’s strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses, and expand its portfolio in premium skin care.
“Filorga is a strong, premium-priced brand with distinctive positioning that fits well within our long-term personal care growth strategy,” Noel Wallace, Colgate’s president and CEO commented.
“We are excited that this acquisition will add a high-growth, profitable, global skin care asset to the Colgate portfolio with the opportunity to drive continued growth through expanded distribution and awareness. This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia.”
The transaction is expected to be finalised by the third quarter of 2019.