Paris, 9th May 2001 - The L'Oréal Group and the CosMedic Concepts company have just signed an agreement. According to the terms of the agreement, the CosMedic Concepts company yields its BioMedic brand and range of products to L'Oréal.
Located in Phoenix, Arizona, BioMedic was founded in 1990 by Cristina Carlino and David Watson. It is specialized in skin care products to accompany dermatology and plastic surgery treatments.
BioMedic, whose range includes 60 products, is present in 1,500 doctors offices throughout the U.S.A. The brand is furthermore distributed in 25 countries. The company achieved a turnover of about 14 million euros in 2000, of which 17% originated outside the United States.
"This acquisition will strengthen L'Oréal's product portfolio in the dermocosmetics and will accelerate our expansion in this rapid growth market," indicated Guy Peyrelongue, President and CEO of L'Oréal U.S.A.
The international development of BioMedic will be driven by LA ROCHE POSAY, a brand of cosmetic products developed especially for dermatologists. Present in 30 countries, the brand is part of L'Oréal's Active Cosmetics department.
"The acquisition of the leading American brand of cosmetics designed for use by dermatologists and plastic surgeons, in association with L'Oréal research, will provide L'Oréal with a powerful position in this potentially strong market throughout the world," stated Laurent Attal, managing director of L'Oréal's Active Cosmetics department.
|Contacts at L’OREAL|
|Shareholders and Market Authorities |
Mr François ARCHAMBAULT
Tel : +33(0)184.108.40.206.45
E-mail : [email protected]
|Financial Analysts and Institutional Investors |
Mrs Caroline MILLOT
Tel : +33(0)220.127.116.11.82
Fax : +33(0)18.104.22.168.02
Mr Lorrain KRESSMANN
Tel : +33(0)22.214.171.124.24