FRANCE. L’Oréal has signed an agreement to acquire SkinCeuticals, a US professional skin care company.
Founded in 1994 and headquartered in Dallas, Texas, SkinCeuticals is a privately-held company. According to L’Oréal, it is one of the largest and fastest growing brands in the professional premium skin care market in the US.
Through a strong and specialised distribution network, the company sells to dermatologists, plastic surgeons, and high-end spas. SkinCeuticals sales in 2004 amounted to US$35 million.
“The acquisition of SkinCeuticals allows L’Oréal to strengthen its position in high-performance professional skin care,” said Chairman and CEO Lindsay Owen-Jones. “This market, in which SkinCeuticals is a leading player, is a particularly promising one with high international potential.”
“SkinCeuticals has already acquired an excellent reputation in the US dermatological world,” commented L’Oréal USA President and CEO Jean-Paul Agon. “This acquisition will also allow L’Oréal to enter the strong and growing market of high-end spas in the US.”
“We are delighted to join forces with an organisation that is not only the world’s largest cosmetics company, but whose commitment and investment in research and development is unsurpassed in the industry”, added SkinCeuticals Co-Founder Alden Pinnell.
SkinCeuticals will become part of the Active Cosmetics Division of L’Oréal, which has recently experienced strong growth.
This acquisition further enhances an already strong portfolio of brands of US origin, such as Ralph Lauren, Redken, Maybelline, SoftSheen-Carson, Matrix and Kiehl’s.
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