L'Oréal : News Release: "L'Oréal Acquires 100% of Cadum"
Clichy, April 26th, 2012 at 6:00 p.m.
L'Oréal Acquires 100% of Cadum
Clichy, April 26th, 2012 - L'Oréal announces today that it has closed the acquisition of 100% of Cadum, the majority of which was held by investment fund Milestone.
In 2011, Cadum achieved consolidated sales of 58 million euros, 49 million euros of which in France, mainly with the brand Cadum.
This business will join France's Consumer Products Division lead by its General Manager Hervé Navellou. This division is made up of three business units: L'Oréal Paris, Garnier-Gemey-Maybelline and LaScad. Their products are distributed in mass retail channels.
"Cadum is an important acquisition for L'Oréal in France," Hervé Navellou stated. "Cadum is a hundred-year-old brand that enjoys a great reputation, is growing rapidly and has interesting development perspectives. It blends seamlessly into our strategy to conquer new consumers in France."
L'Oréal, the world's leading beauty company, has catered to all forms of beauty in the world for over 100 years and has built an unrivalled portfolio of 27 international, diverse and complementary brands. With sales amounting to 20.3 billion euros in 2011, L'Oréal employs 68,900 people worldwide. Regarding sustainable development, Corporate Knights, a Global Responsible Investment Network, has selected L'Oréal for its 2012 ranking of the Global 100 Most Sustainable Corporations in the World. L'Oréal has received this distinction for the 5th consecutive year. www.loreal.com
"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."
Contacts at L'Oréal (switchboard: +33 1 47 56 70 00)
Individual shareholders and market authorities
Mr Jean Régis CAROF
Tel: +33 1 47 56 83 02
Financial analysts and Institutional investors
Mrs Françoise LAUVIN
Tel: +33 1 47 56 86 82
Mrs Stephanie CARSON-PARKER
Tel: +33 1 47 56 76 71
For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, and the Internet site for shareholders and investors, http://www.loreal-finance.com, or its mobile version on your cell phone, http://loreal-finance.mobi; alternatively, call +184.108.40.206.80.50.
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: L'Oreal via Thomson Reuters ONE