LÂ’OrÃ©al USA acquires MalyÂ’s West furthering its salon products distribution strategy in the United States
L’Oréal USA, a subsidiary of L’Oréal, has acquired 100% of Maly’s West.
Maly’s West is the 3rd largest professional salon distributorship in the U.S., with facilities in the western states, selling to 30 000 salons through 340 Distributor Sales Consultants and through more than 100 professional outlets.
The acquisition of Maly’s West -which will operate within the Professional Products Division- follows that of Beauty Alliance, acquired by L’Oréal USA last April (To read the news release).
The two strategic acquisitions, geographically complementary, will allow the creation of a particularly high-performance beauty salon distribution model combining the American distribution system and L’Oréal’s expertise in hairdressing salon partnerships. They will contribute to develop L’Oréal’s position on the American market where it already holds a leading position with its brands Matrix, Redken, L’Oréal Professionnel, Kerastase and Pureology to the benefit of haircare professionals and consumers of salon products.
Maly’s West, which achieved sales of $187 million in 2006, will be consolidated when the transaction will become final following the normal closing conditions and customary governmental review, including antitrust clearance. L’Oréal expects that the acquisition of Maly’s West would be EPS accretive as of 2008.
"This news release does not constitute an offer to sell, or a solicitation of an offer to buy, L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers [also available in English on our Internet site www.loreal-finance.com]. This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."
Contacts at L'OrÃ©alIndividual shareholders and market authorities
Mr Jean-RÃ©gis CAROF
Tel. : +220.127.116.11.83.02
Analysts and institutional investors
Mrs Caroline MILLOT
Tel. : +18.104.22.168.86.82
Fax : +22.214.171.124.80.02
Mr Mike RUMSBY
Tel. : +126.96.36.199.76.71
For more information, please contact your bank, broker or financial institution (I.S.I.N. code FR0000120321), and consult your usual newspapers, and the Internet site for shareholders and investors, http://www.loreal-finance.com; alternatively, call +188.8.131.52.80.50.