Colgate to Acquire Laboratoires Filorga Cosmetiques Skin Care Business
12 July 2019 - 7:18AM
Dow Jones News
By Stephen Nakrosis
Colgate-Palmolive Co. (CL) said Thursday it reached an agreement
to acquire France's Laboratoires Filorga Cosmétiques skin care
business for EUR1.5 billion ($1.69 billion).
Filorga is an anti-aging skin care brand focused primarily on
facial care and sold in over 60 countries. Its largest markets are
France, Italy, Spain and Greater China, Colgate said.
The company said the transaction was financed with a combination
of debt and cash and wasn't expected to have any impact on earnings
per share in 2019.
"Filorga is a strong, premium-priced brand with distinctive
positioning that fits well within our long-term personal care
growth strategy," said Noel Wallace, Colgate's president and chief
executive.
"This acquisition also provides Colgate entry into the
fast-growing and sizeable travel retail channel, particularly in
Asia," added Mr. Wallace.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 11, 2019 17:03 ET (21:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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