PARIS – L’Oréal said Thursday that it is acquiring Thayers Natural Remedies, a U.S.-based natural skin-care brand known for its witch hazel, from Henry Thayer Co.
Financial terms of the agreement were not disclosed.
Multinationals and other investors are increasingly honing in on beauty brands in the natural wellbeing space, since they are growing in popularity among consumers worldwide.
Thayers Natural Remedies, based in Easton, Ct., was founded in 1847 by Dr. Henry Thayer and is most famous for its Witch Hazel Aloe Vera Formula Facial Toner.
The company, with a portfolio of various toners and astringents, expanded its retail reach from natural grocery stores to mass and beauty retailers, drugstores and e-commerce.
Last year, Thayers Natural Remedies generated sales of $44 million.
Thayers Natural Remedies will be folded into L’Oréal’s Consumer Products Division, the group’s largest, which in the first quarter of this year posted sales of 3.17 billion euros.
Alexis Perakis-Valat, president of the division, in a statement called Thayers Natural Remedies “a true ‘love brand’ at the intersection of two major skin-care trends: nature and health.”
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“This acquisition is part of our strategy to develop our skin-care business all around the world and compliments perfectly our North American skin-care brand portfolio,” he said.
L’Oréal’s Consumer Products Division also includes L’Oréal Paris, Garnier, NYX Professional Makeup, Essie, Niely, Dark and Lovely, Magic and Stylenanda.