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Groupe Nuxe Sells 45% Stake to Belgian Family Holding Company

A Belgian family holding company has acquired a minority share in the maker of Huile Prodigieuse.

PARIS — Groupe Nuxe’s capital structure has changed. The French family-owned natural beauty brand is now 45.1 percent owned by Sofina, a Belgian family holding company.

Financial terms were not disclosed of the deal made primarily to accelerate Nuxe’s growth abroad, especially in Asia. China is a prime focus.

Nuxe, which was founded by Aliza Jabès in 1988, registered sales of 275 million euros in 2018 and is expected to post 9 percent revenues growth this year. Fifty-seven percent of its sales are generated in France, and the brand is present in 60 countries.

Jabès will remain as Nuxe’s president.

French pharmacy brands, of which Nuxe is one with its iconic Huile Prodigieuse, are key targets today for investors as the skin-care market booms. In July, Colgate reached a deal to buy Laboratoires Filorga Cosmétiques for 1.5 billion euros, for instance.

In June, WWD reported that Nuxe, which is the third best-selling beauty brand in French pharmacies and parapharmacies, was actively looking for a minority shareholder and had mandated Rothschild & Cie for the search.

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Sofina, which is quoted on the stock exchange in Brussels, makes minority long-term investments primarily in three sectors: consumer and retail, digital transformation and healthcare.