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MarketScreener Homepage  >  Equities  >  Nyse  >  Colgate-Palmolive Company    CL

COLGATE-PALMOLIVE COMPANY

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Colgate Palmolive : to buy skin care business of France's Filorga for $1.69 billion

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07/11/2019 | 05:11pm EDT
FILE PHOTO - Anti-ageing cosmetics by French Laboratoires Filorga are displayed at the company's showroom in Paris

(Reuters) - Colgate-Palmolive Co said on Thursday it would buy the skin care unit of France's Laboratoires Filorga Cosmétiques for 1.50 billion euros ($1.69 billion), as the consumer goods company bolsters its personal care business.

Filorga's anti-aging skin care products are sold in over 60 countries, with its largest markets being France, Italy, Spain and Greater China.

"This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia," Chief Executive Officer Noel Wallace said.

Colgate, which is known for its dental-care products, is looking to expand its presence in the high-margin personal care business and had acquired skin-care brands PCA Skin and EltaMD in 2017.

The Filorga transaction will be financed with a combination of debt and cash and is currently expected to close in the third quarter, Colgate said, adding that the deal is expected to have no impact on its diluted earnings per share in 2019.

Citi was Colgate's financial adviser, while Goldman Sachs and BNP Paribas advised Filorga.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
BNP PARIBAS 0.00% 41.995 Real-time Quote.6.38%
COLGATE-PALMOLIVE COMPANY -0.48% 72.35 Delayed Quote.22.14%
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Financials (USD)
Sales 2019 15 623 M
EBIT 2019 3 746 M
Net income 2019 2 397 M
Debt 2019 5 913 M
Yield 2019 2,38%
P/E ratio 2019 25,8x
P/E ratio 2020 23,5x
EV / Sales2019 4,35x
EV / Sales2020 4,23x
Capitalization 62 114 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 73,45  $
Last Close Price 72,35  $
Spread / Highest target 13,3%
Spread / Average Target 1,53%
Spread / Lowest Target -17,1%
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Managers
NameTitle
Ian M. Cook Chairman & Chief Executive Officer
Noel R. Wallace President & Chief Operating Officer
Henning I. Jakobsen Chief Financial Officer
Michael Crowe Chief Information Officer
Thomas W. Greene Chief Information & Business Services Officer
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