L’Oréal just acquired the Health & Beauty business of Interconsumer Products Limited (ICP) in Kenya from its founding shareholder. With a turnover of approximately 15 million euros in 2012, ICP is a significant player on the Kenyan beauty market, with strong positions in the hair and skin care markets (brands: Nice & Lovely, Gold Touch, Bouncy, All-Tyme, Golden Shine, Queen Elizabeth, Clarion, Versman, VersEva, Smooth & Lovely). This acquisition also provides L’Oréal with a regional manufacturing base; the ICP manufacturing facility in Nairobi that exports its products throughout the entire East African region.
L’Oréal, which created its Kenyan subsidiary in 2011 to develop the group’s business in Kenya, Uganda, Tanzania, Rwanda, Burundi, and Ethiopia, already commercializes its SoftSheen Carson brands in the region. It has led innovation in the hair relaxer, hair care and colour categories over the last year.
“ICP’s acquisition is an important milestone for L’Oréal in Kenya. It broadens our product offer with accessible brands, and strengthens the group’s position in the mass market. This acquisition will also accelerate our development in Eastern Africa,” said Geoff Skingsley, Executive Vice-President, Africa and Middle East Zone.
L’Oréal’s operation in Kenya includes education for salons and hairdressers, and the development of improved retailing for beauty products.