Colgate-Palmolive: shares slightly down after acquisition
(CercleFinance.com) - Shares in Colgate-Palmolive fell on Friday after the firm said it has agreed to acquire Filorga, a French premium anti-ageing skincare brand, for 1.
5 billion euros (approximately 1.7 billion dollars).
Founded in France in 1978, the Filorga brand is sold in over 60 countries, with its largest markets being France, Italy, Spain and China, the giant said.
According to analysts, the deal is a "good strategic fit" for Colgate.
"Following its recent acquisitions of PCA Skin and EltaMD in 2018, the deal underscores Colgate's interest in expanding its portfolio further into the skincare space," Jefferies commented.
The shares are currently losing 0.2% at 73.7 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5 billion euros (approximately 1.7 billion dollars).
Founded in France in 1978, the Filorga brand is sold in over 60 countries, with its largest markets being France, Italy, Spain and China, the giant said.
According to analysts, the deal is a "good strategic fit" for Colgate.
"Following its recent acquisitions of PCA Skin and EltaMD in 2018, the deal underscores Colgate's interest in expanding its portfolio further into the skincare space," Jefferies commented.
The shares are currently losing 0.2% at 73.7 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.