L'Oreal (OTCPK:LRLCY -0.2%) signs an agreement to acquire a US natural skincare brand, Thayers Natural Remedies, to integrate it into its consumer product division.
Thayers Natural Remedies has recorded a sales of $44M in 2019, expanding its distribution footprints from natural grocery stores to mass and beauty retailers, drugstores and e-commerce.
"We believe in its growth potential and unique positioning in the mass skincare market," said Stéphane Rinderknech, President and CEO of L’Oréal USA, Executive VP North America.
Terms of agreement are yet not disclosed.
