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Colgate announces agreement to acquire Filorga Skin Care Business in $1,690 million deal

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Christian Fernsby ▼ | July 12, 2019
Laboratoires Filorga Cosmétiques
Acquisition   Laboratoires Filorga Cosmétiques

Colgate-Palmolive Company announced that it has agreed to acquire the Laboratoires Filorga Cosmétiques (Filorga) Skin Care Business for an equity purchase price of €1,495.5 million (approximately US$1,690 million).

Filorga is a premium anti-aging skin care brand focused primarily on facial care. Originally founded in France in 1978, the brand is now sold in over 60 countries with its largest markets being France, Italy, Spain and Greater China. The Filorga brand leverages a multi-channel distribution strategy across pharmacy, online, specialty stores and travel retail.

The transaction will be financed with a combination of debt and cash and is currently expected to close in the third quarter of 2019. The acquisition is conditioned upon receipt of regulatory approvals in certain countries.

The transaction is expected to have no impact on diluted earnings per share in 2019.

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