PARIS — L’Oréal said on Wednesday that it has signed an agreement to acquire German natural beauty company Logocos Naturkosmetik AG and plans to purchase the Société des Thermes de La Roche-Posay.
Financial terms of the deals were not disclosed.
Logocos Naturkosmetik, based in Hanover, Germany, “pioneered natural cosmetics with the brand Logona and other brands, such as Sante,” L’Oréal said in a statement. Logocos Naturkosmetik’s brands are vegan and bio-certified, with formulas containing plant extracts and natural ingredients culled from the company’s organic farming.
Logocos Naturkosmetik was founded in 1978 by a naturopath and today counts approximately 340 employees. Last year, the company generated net sales of 59 million euros in Europe. L’Oréal said it plans to take the business international.
Alexis Perakis-Valat, president of L’Oréal’s Consumer Products division, said: “Logocos brings to the division two authentic and certified natural brands, as well as a unique expertise from a worldwide pioneer of the organic beauty market. In line with L’Oréal’s strategy to ‘seize what starts,’ this acquisition reinforces the position of the division on one of today’s major beauty ascending trends.”
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“L’Oréal Germany is excited to acquire an expertise in natural cosmetics in a market where the desire for organic cosmetics is among the highest in Western Europe,” said Fabrice Megarbane, general manager of L’Oréal Germany.
In a separate announcement on Wednesday, L’Oréal said it has submitted to the shareholders of Holding STRP, or Société des Thermes de La Roche-Posay, an irrevocable offer for the acquisition of all the shares of the company.
“The project foresees the prior carve out of the hotel business to the current shareholders of Holding STRP and the attribution of exclusive negotiation rights to L’Oréal,” the company said.
Begun in 1921, Société des Thermes de La Roche-Posay is Europe’s first thermal station dedicated exclusively to treating dermatological diseases. In 2017, more than 7,500 patients used the thermal activity, resulting in 3.6 million euros of sales.
L’Oréal already owns the La Roche-Posay skin-care brand.
“This acquisition project will enable us to sustain and reinforce the dermatologic position of La Roche-Posay by developing the existing indications and making the thermal station a flagship for the brand,” said Laetitia Toupet, international general manager of La Roche-Posay.