L'Oréal acquires French baby products company Cadum
By Canadian Packaging StaffGeneral acquisition baby products Cadum L'Oreal Milestone Capital shampoo
L’Oréal, the world’s leading beauty company, has announced it has acquired 100 percent of Cadum, a France-headquartered baby products company. While financial details on the sale are unknown, a Reuters report indicated that a source close to the situation suggested the sale price would be in the 200 million euros ($259.9 million) range.
Cadum was sold by the English-French buyout fund Milestone Capital, who had purchased the business in 2007 with a 17.5 million euros ($22.74-million) leveraged buyout. In 2011, Cadum had 58 million euros ($75.38-million) in revenues mostly through its own Cadum brand, and achieved an operating margin of 21 percent.
The Cadum company will join the L’Oréal Consumer Products Division in France, which consists of: L’Oréal Paris, Garnier-Gemey-Maybelline, and LaScad.
L’Oreal produces such popular brands as Garnier shampoo, Lancome creams and Yves Saint Laurent cosmetics, and with little to no debt continues to boost its revenues and sales via acquisitions.
In 2011, the company purchased Pacific Bioscience Laboratories, a Redmond, Washington-based company that produces Clarisonic, an electric beauty devices that cleans skin via oscillating brushes.
“Cadum is an important acquisition for L’Oréal in France,” says L’Oréal Consumer Products Division general manager Hervé Navellou. “Cadum is a 100-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.”
For more information on L’Oréal, visit www.loreal.com.