L´Oréal Acquires Pacific Bioscience Laboratories

LOral USA and Pacific Bioscience Laboratories, Inc. (PBL) announced a signed merger agreement between LOral USA and PBL.

PBLs Clarisonic is a market leader in the growing areas of sonic skin care devices, topicals and technology. Established in 2001, PBL developed its patented technology, enabling a series of highly popular products under the Clarisonic brand that redefined consumers approach to skin care. These include the Clarisonic Classic, Clarisonic Mia, Clarisonic PLUS and PRO, and the Clarisonic OpalSonic Infusion System.

Powered by sonically oscillating brushes, infusion technology and an experienced management team, PBL has grown rapidly since the Clarisonic launch in 2004. The companys broad distribution network covers six diverse and interdependent channels: dermatologists and cosmetic surgeons, spas, prestige retail, e-retail, television shopping, and www.clarisonic.com. PBL has 300 employees and recently relocated to its new corporate headquarters and manufacturing facility in Redmond, Washington. This state-of-the-art facility significantly increases production capacity of Clarisonic products, currently sold throughout the U.S. as well as in the U.K., Australia, Mexico, Canada and the Asia-Pacific region.

LOral brings powerful marketing, distribution, and R&D synergy to the Clarisonic agenda, said David Giuliani, CEO and co-founder of PBL. LOral shares our vision for ingenuity and dedication to quality. Combining forces, were confident Clarisonic will rapidly achieve its global mission, to provide the power to change the future of your skin.

This is a strategic acquisition for LOral, said Frdric Roz, president and CEO of LOral USA. Devices are rapidly emerging globally as an important new skin care category. Clarisonic is successful and the fast-growing premium brand in this segment. We think that together with PBL, we will create in Redmond an outstanding center of innovation for LOral. Upon closing of the transaction, the Clarisonic brand will join the portfolio of LOral Luxe and benefit from its worldwide presence.

The merger, subject to the approval of PBLs shareholders and other closing conditions, is expected to close in December 2011. LOreal USA has received significant shareholder commitments to vote in favor of the acquisition, including Rosewood Capital and David Giuliani. PBLs senior management team has committed to remain with LOral USA to maintain the continuity of excellence.