Alkos Developpement the parent company of France-based Alkos Cosmetiques has acquired Inter Cosmetiques and Sagal in an attempt to become the number one colour cosmetics company in France.
The cosmetics company based in Boulogne-sur-Mer currently produces a range of make-up pencils and the acquisition will significantly expand its product portfolio.
Alkos adds skin care and personal care to portfolio
InterCosmetiques offers a range of colour cosmetics and skin care products, whilst Sagal concentrates on personal care products including deodorants, soaps, shower gels and shampoos.
In 2007 Alkos Developpement reported sales of €12m with approximately one hundred employees according to French regional publication La Voix Eco.
Through the acquisition the company's workforce will expand by approximately 220 employees.
The company's aim is to become the number one colour cosmetics producer in France reporting sales figures of more than €50m in two years.
French market looks strong for 2008
The market for colour cosmetics and skin care is particularly strong in France with the sector reporting strong results in 2007 despite uncertain economic conditions.
Total sales of skin care, fragrance and colour cosmetics grew by 4.5 per cent in France during 2007 to reach €2.9bn, according to figures released by Beauty Trends Europe.
Breaking the figure down colour cosmetics amounted to 15 per cent of the total sales in 2007, growing 4.8 per cent to reach €389m.
The figures show that the cosmetics market managed to battle tight economic conditions which have led to lower spending power for many French citizens, recording growth in both the volume and value of sales.
"Despite a turbulent economy and the low morale of its countrymen, the French market for cosmetics has maintained strong growth throughout 2007 thanks to the power of retailers and significant investment in media campaigns to promote brands," said Martine Ringwald, vice president Beauty Trends Europe.