Unilever set to buy French cosmetic brand Garancia
today Mar 27, 2019
Consumer goods giant Unilever has made a binding offer to buy French skincare and cosmetics brand Garancia, it said on Wednesday, adding to its portfolio of premium beauty products.
Available in pharmacies and the brand's online store, Garancia's 38 products (whose names are all draw on magic as a theme) are priced from €7 to €60.
Savéria Coste, Garancia CEO, said: “After sustained growth in France in recent years, Garancia is now ready to enter a new phase of its development, and Unilever Prestige would be the right partner to help Garancia achieve our ambitions."
Vasiliki Petrou, Unilever EVP and CEO Prestige, added: “Garancia is one of the leading brands in pharmacies with a strong positioning between natural and science ... We are delighted to have the opportunity to grow this brand globally.”
Terms of the deal, which is expected to close in the second quarter, were not disclosed.
Unilever recorded a turnover of €51 billion in 2018 and has a portfolio of some 400 brands. The group is developing a sustainability plan with the main goal being to reduce the environmental impact of its products by 50 percent. The group has also just named former Procter & Gamble executive Sunny Jain as its new president of Beauty and Personal Care.
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