First Acquisition for LOreal India

L’Oréal India has announced the acquisition of Cheryl’s Cosmeceuticals, a pioneer in professional skin care products and treatments in beauty salons across the country. The deal will be completed within a few weeks.

This is the first acquisition for L’Oréal in India.

Cheryl’s Cosmeceuticals is headquartered in Mumbai. It was created in 1986 by Oscar & Cheryl Pereira, and is known for its skin care treatments and products across salons in India. In 2012, Cheryl’s Cosmeceuticals had a distribution network spanning over 10 000 salons in India and a turnover of approximately 200 million Rupees (3 million Euros).

Jean-Christophe Letellier, managing director, L’Oréal India said, “This is an attractive opportunity for L’Oréal in India as it broadens the product offering of our Professional Products Division in this country to also include skincare products and services. It will further enhance our leadership position in the very dynamic professional products market where we are present with our brands - L’Oréal Professionnel, Matrix, and Kerastase."

Oscar Pereira, director of Cheryl’s Cosmeceuticals, said, “It has been a great adventure to bring to market a truly unique brand that has captured the hearts and minds of many thousands of salons. It will continue to grow and flourish with L’Oréal.”