The operation, which was completed on July 31st 2013, allows Fareva strengthening its position in the make-up market.
“This acquisition is a major event for the group. Thanks to the creativity of Chromavis in the field of make-up, Fareva strengthens its strategy of global offering to its customers and has now in the cosmetics field (make-up and skin care), all the assets allowing it to be at the forefront of innovation and strengthen its R&D dimension, in which it has heavily invested in recent years, to better meet the market expectations. More complementarities (customers, geographical location, activities) will allow to implement numerous different synergies," says Bernard Fraisse, CEO of Fareva Group.
As far as Chromavis is concerned, the operation should help the group consolidating its position in the market and its strategy of international expansion.
“We are very pleased to announce this news, which enables Chromavis to consolidate its global presence (in the United States and Brazil in particular) taking advantage of the strength of Fareva group, its ambitious development strategy and production network, and also its industrial knowhow,” commented Bernard Msellati, President of Chromavis.
This operation is also impacting the European nail polish supply-side since Chromavis owns French manufacturer ChromaDurlin.