French pharmacy beauty brands Théophile LeClerc and Innoxa, formerly owned by the Laboratoires Visiomed, have been acquired by LJV Capital, represented by its founder Frédéric Poux.

WHO: T. LeClerc was created in 1881 by Théophile LeClerc, a Parisian pharmacist who developed a luminizing rice powder for the face as his first product. Today, the brand counts 200 units, including foundations and products for eyes, lips, and nails. T. LeClerc is sold in 1,500 pharmacies in 18 countries.

Innoxa was founded in 1920 by François Debat, a dermatologist, who first invented a cleansing milk for sensitive skin. Bestsellers for Innoxa now include the Nacrée cream and the Gouttes Bleues eye drops, launched in 1950. The brand also has color cosmetics for sensitive skin. Innoxa is carried in 6,000 pharmacies and parapharmacies, primarily in France and Belgium.

WHY: Visiomed Group is divesting its dermocosmetics activities to refocus on healthcare.

IN THEIR OWN WORDS: In a press release it was noted that the challenge for 49-year-old Poux is “to bring back the luster of these two sleeping beauties,” which will be developed quickly in France and Belgium, where they’re already implanted, as well as elsewhere abroad and online. The statement said Poux intends to show “the French pharmacy has a primordial role in ‘clean beauty and natural cosmetics.’”

DETAILS:

• Théophile LeClerc and Innoxa, formerly owned by the Laboratoires Visiomed, have been acquired by LJV Capital, represented by its founder Frédéric Poux.
• Effective as of February 29, 2020, the financial terms were not disclosed, but the deal will provide immediate cash flow and reduce group expenses.
• Each beauty brand is more than 100 years old and has an established presence in the pharmacy channel.
• Laboratoires Visiomed has owned T. LeClerc and Innoxa since 2018 when it acquired the brands from Omega Pharma Laboratories France and Omega Pharma Belgium NV, subsidiaries of the US pharmaceutical group Perrigo Company PLC.
• Poux, the son of a pharmacist, has served as the Chairman and Chief Executive Officer of optical and hearing aid franchise concern Groupe Afflelou. He has also been chairman of the board of directors of Sport 2000 and chairman of the board of Alès Groupe. It was announced in mid-December 2019 that he had stepped down from the latter role, which he started on April 29, 2019.