L'Occitane Acquires Elemis For $900 Million, Eyes Asia Expansion
9 days ago - By WWD
HONG KONG-Beauty group L'Occitane International S.A. has bought British premium skincare brand Elemis for $900 million, it said Sunday evening, after successfully edging out other bidders in auction.
The acquisition in full of Elemis will be funded by the group's cash on hand and bank borrowings, and is expected to close in the first quarter of 2019.
With this deal, L'Occitane rounds out its portfolio which consists of flagship brand L'Occitane en Provence, Melvita, Erborian, L'Occitane au Bresil and LimeLife, and bolsters its focus on skincare. Meanwhile Elemis is set to get a leg up to...
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