The French beauty company is in talks with the investment fund Impala for the sale of one its cosmetic brand, the deal is expected close this summer.
L’Oréal negotiates the sale of Roger & Gallet. The French cosmetic company is in talks with the investment fund to sell the perfume and cream company, according to WWD. If the process continues, the agreement will be finalized this summer.
Roger & Gallet was founded in 1862 and reached sales of 52 million euros (57.4 million dollars) last year. Since the acquisition of Roger & Gallet, L’Oréal has maintained the company under the active cosmetics division.
L’Oréal ended the fiscal year 2018 (ended December 31) with a profit of 3.9 million euros (4.3 billion dollars), 8.8% more than the previous year. The group’s revenue grew by 7.1%, to 26,937.4 million euros (29.8 billion dollars).