FRANCE: L’Oréal has acquired French soap company Cadum, the majority of which was held by investment fund Milestone.
In 2011, Cadum achieved consolidated sales of approximately $74 million, $62 million of which come from France, mainly from its flagship Cadum brand. Its other brands include Cleopatra and Donge.
Financial details of the acquisition were not released by L’Oréal, however initial press reports said the deal was valued at more than $260 million.
The Cadum business will join France’s Consumer Products Division led by its general manager Hervé Navellou. This division is made up of three business units—L’Oréal Paris, Garnier-Gemey-Maybelline and LaScad, which sells products distributed in mass retail channels.
“Cadum is an important acquisition for L’Oréal in France,” Navellou said. “Cadum is a 100-year-old brand that enjoys a great reputation, is growing rapidly and has interesting development perspectives. It blends seamlessly into our strategy to conquer new consumers in France.”
Cadum, which was founded in 1907, became part of Colgate-Palmolive in 1952. The US firm sold the brand in 2003 to a pair of entrepreneurs who were set on reviving the line. They, in turn, sold Cadum to Milestone four years later.