Consumer goods company Colgate-Palmolive Co (NYSE: CL) said yesterday that it plans to acquire the skin-care business of France’s Laboratoires Filorga Cosmétiques for €1.5bn as the deal will reinforce the company’s personal care unit.
Filorga is a brand that produces anti-ageing products for facial care which are sold in more than 60 countries.
The deal is expected to be finalised in the third quarter and will be financed by both debt and cash, the New York-based company said. Colgate also said the acquisition will likely have no influence on its diluted 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 CEO. “This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia,” he added.
American financial services company Citi acted as financial advisor to Colgate-Palmolive on the deal.