Paris, 2nd July 2001 - The L'Oréal group announces signing a binding agreement for the acquisition of Colorama, the Brazilian mass-market make-up and shampoo brand, from Revlon.
Launched in 1976, the brand is number one on the Brazilian nail varnish market and holds a leading position in shampoo products.
Colorama net sales for the year 2000 amounted to Brazil Reals 80 million, that is to say, 40 million euros, converted at the present rate of exchange of 1 euro=1,98 real.
"With this acquisition, L'Oréal has strengthened the position it already holds in the Brazilian mass-market make-up sector with Maybelline," said Joseph Bitton, Managing Director of L'Oréal's Latin American operations.
The acquisition's total amount of 64 million euros includes the industrial plant in Sao Paulo. The plant will increase the group's production capacity, enabling it to keep pace with the rapid expansion of L'Oréal brands already marketed in Brazil.
Transfer of ownership will take place on completion of the various measures necessary to finalise the deal.
L'Oréal has been operating in Brazil since 1960, in salon products with L'Oréal Professionnel and Redken, in the mass-market sector with L'Oréal Paris, Maybelline and Garnier, in luxury products with Lancôme, Helena Rubinstein, Biotherm, Armani Ralph Lauren and Cacharel fragrances, and in dermocosmetics with La Roche Posay.
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