Colgate-Palmolive, internationally known for its mass market toothpastes and soaps, has taken its third bite into the skincare market with its decision to buy Laboratoires Filorga Cosmétiques for US$1.69 million.
Founded in France in 1978, Filorga is a premium anti-ageing skin care brand now sold in over 60 countries with its largest markets being France, Italy, Spain and Greater China.
Filorga originally designed, developed and produced injectable products that were used by aesthetic medical specialists. In 2007 the company launched its Medi-Cosmetique range anti-ageing products formulated with NCEF (“a unique compound encapsulating the active ingredients used in injections”).
Colgate president and CEO Noel Wallace, said Filorga, “a strong, premium-priced brand with distinctive positioning”, fits well within the company’s long-term personal care growth strategy.
“We are excited that this acquisition will add a high-growth, profitable, global skincare asset to the Colgate portfolio with the opportunity to drive continued growth through expanded distribution and awareness,” he said.
The multinational’s acquisition of Filorga follows its buyout of Elta MD and PCA Skin last year.
Announcing the company’s decision to enter the premium skincare market with the purchase of “two of the fastest-growing brands in professional skincare”, Colgate chairman, president and CEO Ian Cook said Elta MD and PCA Skin were “an exciting combination for Colgate’s entry into the professional skincare category”.
“We are delighted that these high-growth, high-margin brands will strengthen our global personal care business,” he said.
“Their complementary product portfolios and sales forces, strong professional support and similar distribution channels will advance Colgate’s presence in the premium global skincare category. Furthermore, these businesses will benefit from Colgate’s decades long legacy of working with professional experts to deliver recommendations that benefit their patients.”
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