Cosmetics giant L’Oréal has completed the acquisition of a French skin care brand as it looks to strengthen and develop the potential of the Cadum product in its native France.
In 2011, Cadum achieved consolidated sales of €58m, prompting L’Oréal to close the acquisition of 100 per cent of the company, the majority of which was held by investment fund Milestone.
This business will join France's Consumer Products Division, lead by its general manager Hervé Navellou, and is made up of three business units: L'Oréal Paris, Garnier-Gemey-Maybelline and LaScad.
"Cadum is an important acquisition for L'Oréal in France," said Navellou. "Cadum is a hundred-year-old brand that enjoys a great reputation, is growing rapidly and has interesting development perspectives. It blends seamlessly into our strategy to conquer new consumers in France."