Canada: L’Oreal to acquire Valeant brands
Valeant, a Canada-based multinational pharmaceutical company, is to sell the CeraVe, AcneFree and Ambi skincare brands to L’Oréal for $1.3 billion in cash.
The CeraVe brand lineup includes cleansers and moisturisers for hand, face and body, as well as baby toiletries, and is based on ceramides, cholesterol and fatty esters delivered through a controlled-release system. The AcneFree range consists of lotions, wipes and other topical anti-acne products, while the Ambi line includes fade cream, exfoliators and moisturisers. Together, the three product lines are said to have annualized revenue of approximately $168 million.
Commenting on the deal, Brigitte Liberman, president of L’Oreal's Active Cosmetics Division, said: "These brands will deepen our relationships with health professionals and will strengthen our positions in North America in this key and fast growing market. Furthermore, we believe CeraVe has a great potential for international growth in the years to come".
"The acquisition of CeraVe, AcneFree and Ambi strongly complement L’Oréal’s brand portfolio", added Frédéric Rozé, president and CEO of L’Oreal USA. "These three brands, built on strong relationships with health professionals and widely distributed, will nearly double the revenue of our Active Cosmetics Division in the US and will help us satisfy the growing demand for active skincare at accessible prices".
L’Oreal’s Active Cosmetics Division includes brands such as La Roche-Posay, Vichy and SkinCeuticals.
Source: L'Oreal / Valeant