Strategic acquisition of a leading professional skin care brand in the USALÂ’OrÃ©al, the worldÂ’s largest beauty company, announced today that it has signed an agreement to acquire SkinCeuticals, a professional skin care company. Founded in 1994 and headquartered in Dallas, Texas, SkinCeuticals, a privately held company, is one of the largest and fastest growing brands in the professional premium skin care market in the U.S. Through a strong and specialized distribution network, the company sells to dermatologists, plastic surgeons, and high end spas. SkinCeuticals sales in 2004 amounted to 35$M.
Â“The acquisition of SkinCeuticals allows LÂ’OrÃ©al to strengthen its position in high-performance professional skin care,Â” said Lindsay Owen-Jones, Chairman and CEO of LÂ’OrÃ©al. Â“This market, in which SkinCeuticals is a leading player, is a particularly promising one with high international potential.Â”
Â“SkinCeuticals has already acquired an excellent reputation in the U.S. dermatological world,Â” commented Jean-Paul Agon, President and CEO of LÂ’OrÃ©al USA. Â“This acquisition will also allow LÂ’OrÃ©al to enter the strong and growing market of high end spas in the U.S.Â”
Â“We are delighted to join forces with an organization that is not only the worldÂ’s largest cosmetics company, but whose commitment and investment in research and development is unsurpassed in the industryÂ”, said Alden Pinnell, co-founder of SkinCeuticals.
SkinCeuticals will be part of the Active Cosmetics Division of LÂ’OrÃ©al, which has recently experienced strong growth. This acquisition further enhances an already strong portfolio of brands of American origin, such as Ralph Lauren, Redken, Maybelline, SoftSheen-Carson, Matrix and KiehlÂ’s.
The transaction will become final upon the customary closing conditions, including antitrust clearance.
"This news release does not constitute an offer to sell, or a solicitation of an offer to buy, LÂ’OrÃ©al shares. If you wish to obtain more comprehensive information about LÂ’OrÃ©al, please refer to the public documents registered in France with the AutoritÃ© des MarchÃ©s Financiers.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."
Contacts at L'ORÃ‰ALShareholders and market authorities
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