PARIS Jan 10 French cosmetics group L'Oreal
said on Tuesday it was buying three skincare brands -
CeraVe, AcneFree and Ambi - from Valeant for $1.3
billion, in a cash deal which L'Oreal said would boost its U.S.
L'Oreal said that the three brands had an annualised,
combined revenue of around $168 million.
""These three brands, built on strong relationships with
health professionals and widely distributed, will nearly double
the revenue of our Active Cosmetics Division in the U.S. and
will help us satisfy the growing demand for active skincare at
accessible prices," Frederic Roze, president and chief executive
of L'Oréal USA, said in a statement.
(Reporting by Sudip Kar-Gupta; Editing by Andrew Callus)