L’Oréal to buy three Valeant skin care brands for $1.3B
MONTREAL, Québec, Canada — Valeant Pharmaceuticals will sell three skin care brands to L’Oréal for $1.3 billion. The brands, CeraVe, AcneFree and Ambi are expected to even further expand L’Oréal’s North American presence.
CeraVe was founded in 2005 and offers a range of advanced skincare products, specifically cleansers, moisturizers, sunscreens, healing ointments and a dedicated baby line.
AcneFree markets and distributes a full range of over-the-counter cleansers and acne treatments in the United States.
Ambi distributes skincare products formulated for the needs of multicultural consumers.
According to L’Oréal, the three brands have annualized combined revenue of approximately $168 million.
"The acquisition of CeraVe, AcneFree and Ambi strongly complement L'Oréal's brand portfolio," said Frédéric Rozé, president and CEO of L'Oréal USA. "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."
CeraVe, AcneFree and Ambi will become part of L'Oréal's Active Cosmetics Division, which includes brands such as La Roche-Posay, Vichy and SkinCeuticals.
"We are thrilled to add CeraVe, AcneFree and Ambi to L'Oréal's Active Cosmetics Division. These brands will deepen our relationships with health professionals and will strengthen our positions in North America in this key and fast growing market. Furthermore, we believe CeraVe has a great potential for international growth in the years to come," said Brigitte Liberman, president of L'Oréal Active Cosmetics Division.
The closing is subject to the standard regulatory approvals and other customary conditions.