Colgate-Palmolive has announced that it has agreed to acquire the Laboratoires Filorga Cosmetiques Skin Care Business for €1,495.5 million (US$1,690 million).
The purchase of the French premium anti-aging brand forms part of Colgate’s strategy to focus on its higher margin personal and oral care businesses and expand its premium skin care portfolio. The deal is expected to close in the third quarter of the year, subject to regulatory approval.
Noel Wallace, Colgate’s President and CEO commented, “Filorga is a strong, premium-priced brand with distinctive positioning that fits well within our long-term personal care growth strategy. 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.”