French cosmetics giant L'Oréal has extended an offer to Japanese beauty group Shiseido to acquire its premium skin care brands Decléor and Carita.
Based on the offer, Shiseido has granted L'Oréal exclusive negotiation rights. According to WWD, L'Oréal is in talks to aquire the brands for “€230m or about $314m at current exchange”. L'Oréal stated that an agreement could be signed in the coming weeks following a consultation period of employee representatives from both L'Oréal and Shiseido.
An Verhulst-Santos, President Professional Products Division L’Oréal, said: “This project is a wonderful opportunity for our division to become a major player in this strategic professional beauty market, complementary to hair salons. Decléor and Carita are two beautiful, prominent beauty institute brands, particularly well-established in western Europe. Their growth perspectives, especially internationally, are very promising.”
Decléor and Carita turned over approximately €100m in 2012, which puts the brands in second place on the worldwide professional skin care market in beauty institutes, spas and hair salons.
