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L'Oreal to buy three skincare brands from Valeant for $1.3 billion

January 10, 2017 7:44 AM
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L'Oreal to buy three skincare brands from Valeant for $1.3 billion

PARIS French cosmetics group L'Oreal (OREP.PA) said on Tuesday it was buying three skincare brands - CeraVe, AcneFree and Ambi - from Valeant (VRX.TO) for $1.3 billion, in a cash deal which L'Oreal said would boost its U.S. revenues.

L'Oreal said that the three brands had an annualized, combined revenue of around $168 million.

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