Japanese beauty giant is due to buy parent company Gurwitch Products
Japanese conglomerate Shiseido is to acquire Gurwitch Products, the owner of colour cosmetics brand Laura Mercier and skin care brand Révive, via its Shiseido Americas subsidiary.
The two brands are on track to join Shiseido’s growing portfolio of prestige colour cosmetics and skin care brands officially in the third quarter of this year. Upon closure of the deal, Shiseido Americas plans to “rapidly integrate” the brands into its regional organisation.
Annual net sales for Gurwitch came in at $175m for fiscal year 2015. The effect of the acquisition on Shiseido’s consolidated financial results for fiscal year 2016 is predicted to be minor.
Marc Rey, President and Chief Executive Officer of Shiseido Americas, explained that both Laura Mercier and RéVive have “unique viewpoints” and loyal customer bases, and will complement Shiseido’s pre-existing portfolio. “Shiseido is well positioned to generate significant value from this attractive acquisition opportunity, and we are energised to use our regional and global resources to take these brands to the next level and further strengthen our overall position in the marketplace.”
Gurwitch Products is a wholly-owned subsidiary of Alitcor. Candace Matthews, who oversees the Gurwitch Products business and is President of the Americas Region for Amway, an Alticor portfolio company, described Shiseido as the “perfect home” for Gurwitch and its brands. “As part of the Shiseido portfolio, Laura Mercier and RéVive will be able to build upon their impressive growth and successes while introducing their products and techniques to more customers around the world.” Matthews added: “Shiseido has the tools and expertise to help these brands continue to thrive.”