L'Oréal completes acquisition of skin care devices maker Pacific Bioscience
16 Dec 2011
L'Oréal S A, the world's largest cosmetics company, yesterday said that it had completed the acquisition of Pacific Bioscience Laboratories Inc, the manufacturer of the Clarisonic line of skin care devices.
In early November, L'Oréal agreed to buy Pacific Bioscience for an undisclosed sum. The shareholders of Pacific Bioscience approved the transaction yesterday.
The acquisition gives the Clichy, France-based beauty products maker, access to patented sonic skin care technology enabling the company to acquire strategic positions in the quickly emerging skin care devices category.
Pacific Bioscience' brand of Clarisonic products are sold mainly throughout the US and are also present in the UK, Australia, Mexico, Canada and the Far East.
It is sold through a distribution network which includes dermatologists and cosmetic surgeons, spas, prestige retail, e-tail, television shopping and clarisonic.com.
In FY 2010, Clarisonic achieved net sales of $ 105 million.