L’Oréal divested the green beauty brand Sanoflore, which it acquired in 2006, selling it to French investment fund Ekkio Capital and Sergio Calandri.
WHO: Sanoflore, based in the Drôme region of southeast France, was founded by Fodolphe Balz. L'Oréal's plan was to capitalize on consumer demand for organic products and expand Sanoflore’s international reach.
Ekkio Capital specializes in small and medium-size companies in the health and beauty space. Calandri’s Inula Group includes brands HerbalGem and Biofloral.
IN THEIR OWN WORDS: In a statement the group said, “L’Oréal has a portfolio of complimentary brands. The group’s strategy is to acquire and, sometimes, exit, the brands, to keep a very strong portfolio and the complementarity it needs to thrive over the long term.”
“The success of L’Oréal Dermatological Beauty is based on a strategy and a business model focused on brands prescribed by healthcare professionals,” the group continued. “Under these conditions, the division has decided to focus on the dermatological brands in its portfolio.”
“This sale does not result in any redundancies in France,” L’Oréal said, adding that it ”supports each of the employees concerned with career development tailored to their skills. The brand’s external partners are also supported, in line with our group’s strong social values.”
2 Article(s) Remaining