The French multinational L’Oréal has signed an agreement to acquire vegan cosmetics company Logocos Naturkosmetik, based in Germany. The financial terms of the transaction were not disclosed. The transaction is expected to be completed within a few months after the approvals of the competition bodies.
With products distributed in Europe, the company reported net sales of 59 million euros in 2017. L’Oreal aims to expand the distribution of the brand in other countries.
According to a statement to the market, all company skin care brands, hair care products and personal care products are vegan and certified. The items have among the components vegetable extracts and natural ingredients derived from organic farming.
“This acquisition strengthens the position of the consumer products division in one of today’s greatest beauty trends, which is organic products,” said L’Oreal consumer area president Alexis Perkins-Va lat.