L’Oreal Looks to Bolster Its Natural Skincare by Acquiring Thayers Natural Remedies
Paris-based personal care titan L'Oreal Group (OTC: LRLCY) continued its strategy of acquiring American cosmetics brands with today's announced deal to purchase Thayers Natural Remedies for an undisclosed sum. One of the biggest competitors to Estee Lauder (NYSE: EL), L'Oreal is apparently looking to strengthen its position in the natural skincare market that emerged from the contemporary "well-being" movement.
Both companies have a long history in the field of personal care products. L'Oreal is approximately a century old, while Thayers Natural Remedies was founded more than 170 years ago in Cambridge, Massachusetts, though it is now headquartered in Connecticut. Thayers has been in business continuously since 1847 and makes products based on witch hazel, expanding on the founder's original witch hazel facial toner.
Image source: Getty Images.
Source Fool.com
