L'Oréal USA is set to see the revenue of its Active Cosmetics Division double, following the takeover of the brands CeraVe, AcneFree and Ambi from multinational pharmaceutical company Valeant.
All three have a combined annual revenue of $168 million and are sold by supermarket chains in the US, as well as on an over-the-counter basis in pharmacies. Together they cost the French cosmetics company $1.3 billion.
Frédéric Rozé, president and CEO of L'Oréal USA, said the takeover will “strongly complement L'Oréal's brand portfolio.”
“These three brands, built on strong relationships with health professionals and widely distributed, will nearly double the revenue of our Active Cosmetics Division in the US and will help us satisfy the growing demand for active skincare at accessible prices," he added.
CeraVe, which is comprised of advanced skincare products, specifically cleansers, moisturizers, sunscreens, healing ointments, and a dedicated baby line, is ‘one of the fastest growing skincare brands in the US,' according to a statement.
AcneFree sells and distributes over-the-counter cleansers and acne remedies in the country, while Ambi produces skincare products adapted to the needs of multicultural consumers.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
