Unilever has made a binding offer to acquire Garancia, a derma-cosmetic brand in the skincare market.
The value of the deal has not been disclosed, with the acquisition set to be completed in the second quarter of this year, subject to competition approval.
The brand was founded by French pharmacist Savéria Coste in 2004.
Natural And Science
“Garancia is one of the leading brands in pharmacies with a strong positioning between natural and science, offering fantastic beauty products with a touch of magic,” commented Vasiliki Petrou, Unilever EVP and CEO Prestige.
“Thanks to Savéria’s vision and expertise in derma-cosmetics, Garancia’s hero product Pschitt Magique is much loved and has earned great loyalty from consumers across different generations. We are delighted to have the opportunity to grow this brand globally.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
