Breaking News

L'Oréal Sees Magic in Magic Holdings

August 15, 2013

Announces plan to acquire Chinese cosmetic mask company.

L’Oréal and Magic Holdings International Limited have issued today a “joint announcement” regarding L’Oréal’s proposal to acquire all of the shares of Magic Holdings International Limited. The proposed price is 6,30 HK dollars per share, according to the companies.
 
L’Oréal’s proposal is supported by Magic’s board of directors. Six key shareholders, representing just over 62% of the company’s equity, are already committed to supporting L’Oréal’s proposal, according to a release from the Paris-based beauty giant.
 
The implementation of the transaction is subject to the approval of the Ministry of Commerce of the People’s Republic of China (MOFCOM).
 
A specialist in cosmetic facial masks and a publically traded firm, Magic’s turnover in 2012 was approximately €150 million, up some 29% over 2011. Magic’s MG brand is one of China’s leading brands in the mask category.
 
Relying on Magic’s highly talented management and teams, L’Oréal intends to develop this Chinese brand by contributing its science based expertise, and using its advanced and applied research in its China Research & Innovation center and across the world.
 
L’Oréal contends the MG brand will deliver benefits to Chinese consumers by beautifully complementing L’Oréal’s Consumer Products Division existing portfolio of brands in China.
 
blog comments powered by Disqus
  • What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 24, 2016
    Euromonitor weighs in on the implications for consumer product companies.

  • Henkel Grabs the Sun

    Henkel Grabs the Sun

    Ian Bell, Euromonitor International||June 24, 2016
    Euromonitor's Ian Bell on the impact the purchase will have on the US detergent industry.

  • To The Max

    To The Max

    Melissa Meisel, Associate Editor||June 20, 2016
    Velvet 59 is on the rise at locations like Ricky’s NYC.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.