United States
L’Oréal acquires PureOlogy
L’Oréal, the world’s largest beauty company, announced today that it has acquired, through its subsidiary L’Oréal USA, PureOlogy Research LLC, a luxury American brand sold through hairdressers in the professional haircare market.
Based in Irvine, California, the company is one of the fastest growing haircare brands in the US. PureOlogy’s sales in the last 12 months were $57 million.
PureOlogy will be consolidated as of May 8, 2007. L’Oréal expects that the acquisition of PureOlogy would be EPS neutral in the financial year to December 31, 2007 and EPS accretive thereafter.
PureOlogy will be joining the international brands of L’Oréal Professional Products Division: L’Oréal Professionnel, Kérastase, Matrix, Redken and Mizani.