By  on August 3, 2011

PARIS — AmorePacific Group has agreed to buy the Annick Goutal fragrance brand from Starwood Capital.

Terms of the deal were not disclosed.

Seoul-based AmorePacific is making the acquisition through its overseas holding company, AmorePacific Global Operations Ltd. The move is meant in part to heighten the company’s recognition as a global beauty company, reinforce its overseas business capabilities, strengthen its brand portfolio and luxury brand image, and improve production efficiency through shared resources. The acquisition is intended also to establish a foothold for expanding AmorePacific’s fragrance business in Asia, such as China and Japan.

“By successfully completing its first overseas brand acquisition, AmorePacific will be able to build experience that will strengthen its capabilities for future potential acquisitions,” the company stated.

Paris-based Annick Goutal was launched in 1981 and is today sold in more than 1,300 doors — including its own boutiques — in 20 countries.

AmorePacific’s brands include Paris-based Lolitia Lempicka in fragrance; Amorepacific, Sulwhasoo and Laneige in cosmetics, and Amos, Spa Goa, Mise en Scene in hair care. The company’s 2010 sales were 2.26 trillion Korean won, or $1.97 billion at average exchange for the period, up 20.1 percent versus 2009.

Paris-based investment firm Ohana & Co. advised AmorePacific on the Annick Goutal acquisition.

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