L'Oreal : L'Oréal: News Release: "L'Oréal acquires beauty firm Interconsumer
Products in Kenya"
L'Oréal acquires beauty firm Interconsumer Products in Kenya
Clichy, 15 April 2013 - L'Oréal announced it has acquired the Health & Beauty
business of Interconsumer Products Limited (ICP) in Kenya from its founding
shareholder. With a turnover of approximately 15 million euros in 2012, ICP is
a significant player on the Kenyan beauty market, with strong positions in the
hair and skin care markets. The products are manufactured in Nairobi and sold
in East African countries.
This acquisition highlights the strategic importance of Africa for L'Oréal and
demonstrates our confidence in this region and its market potential driven by
a rising middle class, growing income and long tradition of beauty practices.
"ICP's acquisition is an important milestone for L'Oréal in Kenya. It broadens
our product offer with accessible brands, and strengthens the group's position
in the mass market. This acquisition will also accelerate our development in
Eastern Africa," said Geoff Skingsley, Executive Vice-President, Africa and
Middle East Zone.
L'Oréal already owns and commercializes the brands of SoftSheen Carson, a
leader of the Afro-specific market, across Africa. It has led innovation in
the hair relaxer, hair care and color categories over the last year. Its
operation in Kenya includes education for salons and hairdressers, and the
development of improved retailing for beauty products. The acquisition of the
ICP brands will extend our knowledge of the market and increase our reach in
Kenya and provide a regional manufacturing base for expanded operations.
About L'Oréal East Africa
L'Oréal East Africa is based in Nairobi since 2011.The subsidiary is in charge
of developing the Group's business in Kenya, Uganda, Tanzania, Rwanda,
Burundi, and Ethiopia. With SoftSheen Carson and Mizani brands, L'Oréal East
Africa offers products which benefit from the technological innovation
developed by the Group's laboratories and Institute for Ethnic Hair and Skin
Research based in Chicago. L'Oréal has been active in the region through its
philanthropy programs in particular "Hairdressers against AIDS" and L'Oréal -
UNESCO "For Women in Science" program including an award to a young Kenyan
scientist in 2012. L'Oréal hosted the Pan-African dermatological congress in
Nairobi at the end of 2012.
L'Oréal, the world's leading beauty company, has catered to all forms of
beauty in the world for over 100 years and has built an unrivalled portfolio
of 27 international, diverse and complementary brands. With sales amounting to
22.5 billion euros in 2012, L'Oréal employs 72,600 people worldwide. In 2013,
the Ethisphere Institute, a leading international think-tank for business
ethics, corporate social responsibility and sustainability, recognized L'Oréal
as one of the World's Most Ethical Companies. This is the fourth time that
L'Oréal has received this distinction. www.loreal.com
"This news release does not constitute an offer to sell, or a solicitation of
an offer to buy L'Oréal shares. If you wish to obtain more comprehensive
information about L'Oréal, please refer to the public documents registered in
France with the Autorité des Marchés Financiers, also available in English on
our Internet site www.loreal-finance.com.
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'Oréal (switchboard: +33 1 47 56 70 00)
Individual shareholders and market authorities
Mr Jean Régis CAROF
Tel: +33 1 47 56 83 02
Financial analysts and Institutional investors
Mrs Françoise LAUVIN
Tel: +33 1 47 56 86 82
Mrs Stephanie CARSON-PARKER
Tel: +33 1 47 56 76 71
For more information, please contact your bank, broker or financial
institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers,
and the Internet site for shareholders and investors,
http://www.loreal-finance.com; alternatively, call +33 1 40 14 80 50.
Read the News Release of April 15th, 2013
This announcement is distributed by Thomson Reuters on behalf of Thomson
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applicable laws; and
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information contained therein.
Source: L'Oreal via Thomson Reuters ONE
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