RELIEF FOR EMBATTLED VALEANT
L’Oreal to buy skincare brands with US reach
L’Oreal says it will acquire the CeraVe, AcneFree and Ambi brands in a cash purchase that would nearly double the US sales of its active cosmetics division
French cosmetics giant L’Oreal has agreed to buy three leading skincare brands from Quebec-based pharmaceutical firm Valeant for $1.3bn in a move set to give its US offering a face-lift. The acquisition will expand the group’s presence in the US and builds on its purchase of IT Cosmetics for $1.2bn in July. L’Oreal said on Tuesday that it would acquire the CeraVe, AcneFree and Ambi brands in a cash purchase that would nearly double the US sales of its active cosmetics division, which focuses on aesthetic dermatology. The acquisition would complement the brand portfolio, president and CEO of L’Oreal USA Frederic Roze said. "These three brands, built on strong relationships with health professionals and widely distributed … will help us satisfy the growing demand for active skincare at accessible prices," he said. The active cosmetics division includes dermocosmetic brands such as La Roche-Posay, Vichy and SkinCeuticals. AcneFree provides acne treatments and Ambi has products designed...
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