France: L’Occitane divests Le Couvent Des Minimes
Groupe HLD, a French investment group, has announced that it has acquired the skincare brand Le Couvent des Minimes from natural health & beauty firm L'Occitane, together with Didier Tabary, president of the health and beauty firms Laboratoires Filorga and SVR.
Created in 2004, the Le Couvent des Minimes brand is now distributed to 15 countries, predominantly via pharmacies and perfumeries. The firm's product line includes colognes in fragrances such as orange & basil and lavender & mandarin, as well as shower gels, deodorants and soaps, and moisturisers for face and body.
Groupe HLD said Le Couvent des Minimes would be integrated into Filorga and SVR's brand lines, where it would benefit from the latter's presence in 85 countries, as well as significant commercial and manufacturing synergies.
Commenting on the deal, L'Occitane CEO Reinold Geiger said: "This sale will allow us to focus our teams and our marketing investments on our most important brands: L’Occitane en Provence, L’Occitane au Brésil, Melvita and Erborian. In previous endeavours, Groupe HLD and Didier Tabary have demonstrated their ability to develop brands in both premium and pharmacy channels, and this knowledge will leave the Le Couvent des Minimes brand well placed to continue to develop further".
Source: Groupe HLD / L'Occitane