Colgate-Palmolive buys Laboratoires Filorga Cosmetiques skin care unit for $1.7B
As part of its strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses, and expanding its portfolio in premium skin care, Colgate-Palmolive announced that it has agreed to acquire the Laboratoires Filorga Cosmetiques Skin Care Business for an equity purchase price of about $1.69B. Filorga is a "premium" anti-aging skin care brand focused primarily on facial care. The transaction will be financed with a combination of debt and cash and is currently expected to close in Q3 of 2019. The acquisition is conditioned upon receipt of regulatory approvals in certain countries. The transaction is expected to have no impact on diluted earnings per share in 2019.