L’Oréal announced it has signed a contract for the acquisition of Colombian Vogue group from its shareholders.
In Colombia, Vogue is the leader in mass-market make-up. In 2011, the Vogue group achieved a consolidated turnover of approximately 30 million euros.
“Vogue is an important acquisition for L’Oréal Colombia as it strengthens its position in the very competitive make-up category,” said Alexandre Popoff, L’Oréal’s Executive Vice-President, Latin America Zone.
“The brand represents development opportunities outside of Colombia, particularly in Central America, in Ecuador and in Peru.”
This acquisition will be completed pending the usual regulatory approvals, in particular the approval of the anti-trust authority.
L’Oréal is the world’s leading beauty company, has catered to all forms of beauty in the world for over 100 years and has built an unrivalled portfolio of 27 international, diverse and complementary brands. With sales amounting to 20.3 billion euros in 2011, L’Oréal employs 68,900 people worldwide.
