The personal care conglomerate Colgate-Palmolive has added the prestige skincare brand Laboratoires Filorga Cosmétiques (Filorga). The wellness giant purchased the French anti-aging beauty brand for EUR 1.49 billion (approximately USD 1.69 billion), as part of its strategy to expand its skincare business, it has announced.
"Filorga is a strong, premium-priced brand with distinctive positioning that fits well within our long-term personal care growth strategy," said Noel Wallace, Colgate’s President and CEO, in a statement. "We are excited that this acquisition will add a high-growth, profitable, global skin care asset to the Colgate portfolio with the opportunity to drive continued growth through expanded distribution and awareness."
Founded in France in 1978 by Michel Tordjman, a doctor of aesthetic medicine and a cellular biologist, Filorga is known for its scientific approach to skincare. Today it offers more than 50 premium products to clients in more than 60 countries. Beyond France, the brand enjoys a strong international presence in Italy, Spain and Greater China.
The move signals the latest big skincare addition for Colgate, whose brands include Colgate, Palmolive, elmex, Tom’s of Maine and Sanex. In 2017, the conglomerate purchased PCA Skin, which specializes in medical-grade in-office and take-home skin care products, and EltaMD, which offers sun care products for broad-spectrum, everyday use, dispensed by physicians.