Breaking News

L'Oréal To Buy Out Nestlé Next Year

August 30, 2013

Move valued at more than $29 billion.

It looks like L'Oréal will finally convince Nestlé to leave the nest in 2014.

L'Oreal will try to buy Nestle's 29.5% stake in the French cosmetics giant next year, French daily Les Echos reported, citing L'Oréal Chief Executive Jean-Paul Agon.

The newspaper quoted Agon as saying L'Oréal would have the means to buy the Swiss food group's holding from April 2014, when a 10-year mutual right of first refusal with L'Oréal's founding Bettencourt family expires, allowing Nestle to sell.

 

Agon told the paper the French group would be ready to buy Nestlé's holding, valued at around 22 billion euros ($29.09 billion), according to a front-page excerpt of Les Echos' Friday edition.

Nestle said this week it wanted to keep all options open regarding its L'Oréal stake.

The Bettencourt family said last week it had no plans to sell its 30.5% stake in L'Oréal, responding to speculation that the group's shareholder structure could change.

blog comments powered by Disqus
  • Long Term Sustainability In the Nonwovens Market

    Long Term Sustainability In the Nonwovens Market

    August 23, 2016
    Learn more at Cleaning Products USA, Nov. 9-11, 2016

  • Fro Yo!

    Fro Yo!

    Tom Branna, Editorial Director||August 22, 2016
    Project Beauty dishes out Hairgurt, a line of vitamin-rich hair shampoos and conditioning masques.

  • TLC for Those Who Need It Most

    TLC for Those Who Need It Most

    Christine Esposito, Associate Editor||August 22, 2016
    New curriculum debuting at Bellus Academy helps estheticians treat a population that needs TLC.

  • Special Effects

    Special Effects

    Melissa Meisel, Associate Editor||August 1, 2016
    Fall 2016 color cosmetics reflect light and offer a focus on elements like pigment, slip and wear.

  • Works of Art

    Works of Art

    Tom Branna, Editorial Director||August 1, 2016
    These suppliers know that the container can be just as important as the juice to entice luxury shoppers.

  • Sustainability is Omnipresent

    Sustainability is Omnipresent

    Christine Esposito , Associate Editor||July 1, 2016
    Industry stakeholders convene in New York City for Organic Monitor’s annual event