L'Oréal completes acquisition of Clarisonic maker
NEW YORK — L'Oréal has completed its acquisition of sonic skin care device manufacturer Pacific Bioscience Labs, which makes the Clarisonic family of products.
In early November, the two companies signed a merger agreement paving the way for L'Oréal USA to buy Pacific Bioscience Labs. The shareholders of Pacific Bioscience Laboratories have approved the transaction.
The move gives L'Oréal access to patented sonic skin care technology, enabling the company to acquire strategic positions in the skin care devices category.
Clarisonic is sold mainly throughout the United States and also is present in the U.K., 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 fiscal year 2010, Clarisonic achieved net sales of $105 million.
"Clarisonic is a strategic acquisition for L'Oréal," stated Nicolas Hiéronimus, president of L'Oréal Luxe. "Devices are emerging globally as an important new skin care category. Clarisonic is the most successful and fast-growing premium brand in this category, and we will roll it out internationally as well as enhance our service experience in our luxury counters."
Pacific Bioscience Laboratories will remain in its new corporate headquarters and manufacturing facility in Redmond, Wash. The site is expected to become another hub of innovation for L'Oréal in the United States.
Pacific Bioscience Labs' management team will stay with the company in their respective roles, and David Giuliani will retain his title as CEO, L’Oréal stated.