L’Occitane Acquires Elemis For $900 Million, Eyes Asia Expansion
HONG KONG–Beauty group L’Occitane International S.A. has bought British premium skin care and wellness brand Elemis for $900 million, L’Occitane said Sunday evening, after successfully edging out other bidders in auction.
The acquisition in full of Elemis will be funded by the group’s cash on hand and bank borrowings, and is expected to close in the first quarter.
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