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Valeant sells 3 skincare brands to L’Oreal for $1.3 billion

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Paris-based beauty and hair care product manufacturer, L’Oreal entered into an agreement to buy the skincare brands CeraVe, Acne Free and Ambi.
According to a report in Reuters, 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 professionals and widely distributed, will nearly double the revenue of our Active Cosmetics Division in the U.S. and will help us satisfy the growing demand for active skincare at accessible prices,” President & CEO L’Oréal USA, Frederic Roze, said in a statement.
L’Oreal said the three brands would stand alongside the likes of Vichy and La Roche-Posay in its Active Cosmetics division, which is among its strongest in terms of growth and resilience to slowdowns in consumer spending in the past three to four years.

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