L’Oréal has signed an agreement for the acquisition of Colombian Vogue group from its shareholders.
Vogue is the leading mass market make-up brand in Colombia and in 2011 the Vogue group recorded a consolidated turnover of approximately €30m. The acquisition will be completed pending regulatory approval.
Alexandre Popoff, L’Oréal’s executive vice president, Latin America Zone, said: “Vogue is an important acquisition for L’Oréal Colombia as it strengthens its position in the very competitive make-up category. The brand represents development opportunities outside of Colombia, particularly in Central America, in Ecuador and in Peru.”