L'Oreal Acquires Controlling Stake in Indian Personal Care Firm Innovist

Deep News06-18

French cosmetics giant L'Oreal Co. announced on Thursday that it will acquire a majority stake in India's Innovist, aiming to boost its share in one of the world's fastest-growing markets.

The transaction includes the right to fully acquire the shares held by minority investors and will bring under L'Oreal's umbrella several of Innovist's local brands, including the Bare Anatomy hair care line and the Chemist at Play skincare range.

The financial terms of the deal have not been disclosed.

L'Oreal stated that Innovist is one of India's fastest-growing "science-led, digital-first" personal care companies, known for its clean formulas and transparent ingredient lists.

The company indicated that, pending regulatory approvals, the deal is expected to close in the coming months. L'Oreal also noted that the founders and minority shareholders will continue to collaborate with L'Oreal India in operating the business.

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