Dutch-British multinational Unilever has submitted a binding bid on Garancia, the French high-quality cosmetics and skincare brand founded in 2004. It's not clear yet how much Unilever paid for the deal.
Turning Pschitt Magique & Co into a global brand
If the competition watchdog agrees, Unilever will be finishing up the acquisition of French cosmetics and skincare brand Garancia in the second quarter of this year. Garancia was founded in 2004 by French pharmacist Savéria Coste. It now sells a range of 38 high-quality facial and body care products through pharmacists and a select number of retailers.
“Garancia is one of the leading brands in pharmacies with a strong positioning between natural and science," stated Vasiliki Petrou, CEO of Unilever Prestige, the premium division of the Unilever Personal Care branch. He continued by saying that Garancia offers "fantastic beauty products with a touch of magic", in a clear reference to the brand's top product: Pschitt Magique, which claims to be able to renew all of a person's skin within 30 seconds. "We are delighted to have the opportunity to grow this brand globally," concluded Petrou.
"After sustained growth in France in recent years, Garancia is now ready to enter a new phase of its development," said CEO and founder Savéria Coste. “Unilever Prestige would be the right partner to help Garancia achieve our ambitions, while maintaining our continued commitment to clean ingredients, creativity and excellence,” she added. No financial details on Unilever's binding bid or Garancia's turnover have been released.