L’Oreal in talks to buy Azzaro and Mugler from Clarins
L’Oreal is in talks to buy perfume and fashion brands Azzaro and Mugler from Clarins Group, it said today.
The company did not disclose the financial details of the proposed deals.
Clarins said the two brands’ have combined sales of €416m (£372m), representing 26 per cent of Clarins’ annual sales of €1.6bn.
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Cyril Chapuy, president of L’Oreal Luxe, said: “The perfume category is at the heart of our global strategy for growth … we would be thrilled to welcome Mugler and Azzaro.”
He added: “These signatures, with a long history in fashion and olfaction, would perfectly complete our portfolio of brands.”
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L’Oreal’s share price rose one per cent this morning to €251.80.
Roche Brune Asset Management fund manager Gregoire Laverne said:“This deal makes perfect sense in terms of L’Oreal’s plans to strength its portfolio of brands. The company has built up via a series of acquisitions and generates enough cash for these types of deals.”