L'Oreal to buy three skincare brands from Valeant for $1.3 billion
PARIS French cosmetics group L’Oreal (OREP.PA) is acquiring three specialized skincare brands – CeraVe, AcneFree and Ambi – from Canada’s Valeant Pharmaceuticals International (VRX.TO) for $1.3 billion in cash to expand into one of the fastest growing areas of the beauty industry. The French cosmetics giant paid nearly eight times the brand’s combined annual revenue of $168 million. “These three brands, built on strong relationships with health […]