7/12/2019, 3:01 AM (Source: TeleTrader)
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Colgate to acquire French skincare brand Filorga for $1.69B

Colgate-Palmolive Company announced it will acquire the Laboratoires Filorga Cosmetiques (Filorga) skincare business for €1.5 billion ($1.69 billion). ​Filorga is a French anti-aging skincare brand founded in 1978.

"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," Colgate President and Chief Executive Officer Noel Wallace commented on the deal.

"This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia," he added.

Baha Breaking News (BBN) / JC