Unilever Makes A 'Binding Offer' To Acquire Garancia
Consumer goods giant Unilever has announced that it has made a 'binding offer' to acquire Garancia.
The French derma-cosmetic brand Garancia's portfolio includes 38 premium facial and body skincare products predominantly sold through the pharmacy channel in France, and in selective retail distribution.
“Garancia is one of the leading brands in pharmacies with a strong positioning between natural and science, offering fantastic beauty products with a touch of magic," Vasiliki Petrou, Unilever EVP and CEO Prestige.
The skincare and cosmetics brand was founded in 2004 by pharmacist and Garancia CEO, Savéria Coste.
"Thanks to Savéria’s vision and expertise in derma-cosmetics, Garancia’s hero product Pschitt Magique is much loved and has earned great loyalty from consumers across different generations. We are delighted to have the opportunity to grow this brand globally.”
New Development Phase
“Since I created Garancia, I have always paid particular attention to product formulation, and I have striven to maintain a disruptive, innovation-driven approach within the company," Coste said.
"Based on the combination of nature and science, my formulas are clean, sensory and so effective our consumers think they are magical!"
"After sustained growth in France in recent years, Garancia is now ready to enter a new phase of its development, and Unilever Prestige would be the right partner to help Garancia achieve our ambitions," she added, "while maintaining our continued commitment to clean ingredients, creativity and excellence, which will guarantee the preservation of Garancia’s core values.
"I am excited by the opportunity to work with the Unilever Prestige team in this new chapter in our history."
According a Unilever statement, terms of the deal were not disclosed.
The acquisition is expected to close in Q2 2019, subject to customary consultation process.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.