Symrise optimistic for 2017 as it exceeds expectations for fiscal 2016; sales up 12 percent
Symrise has smashed its target for 2016, announcing an impressive 12 percent increase in sales for the year to €2,903.2 million (reported currencies). Earnings were up 9 percent to €625.2 million, with an EBITAN margin of 21.5 percent. “In the fiscal year 2016,...
Puig buys majority stake in Greek cosmetics company Apivita
The parent company of Spanish luxury fragrance firm Puig, Exea has acquired a majority stake in Greek natural cosmetics company Apivita for an undisclosed sum, according to various reports. The Catalan company will take a controlling interest, carried out via a share...
Evonik to acquire alternative preservative specialist Dr Straetmans
Evonik has announced the acquisition of Hamburg-based Dr Straetmans, a specialist in alternative preservative systems for cosmetic products. Terms of the deal were not disclosed, but the transaction is expected to complete in the first half of the year. The move will...
Alibaba expands Alipay POS in Europe to 2,000
Alibaba-owned Alipay has expanded the number of stores and restaurants that accept the mobile payment app tenfold in the space of three months, bringing the total to 2,000, according to a report published by South China Morning Post. “We follow Chinese consumers’...
L’Oréal creates new Deputy GM, L’Oréal Luxe role as division snowballs
L’Oréal has created a new role for its Luxe division on the back of the unit’s steady growth and increasing number of brands. Cyril Chapuy has been named Deputy General Manager L’Oréal Luxe in charge of international brands. Chapuy will report to Nicolas Hieronimus,...
AkzoNobel considers future of Specialty Chemicals business as PPG bid rejected
AkzoNobel has announced a review of strategic options for the separation of its Specialty Chemicals business, which could see the €4.8 billion unit become an independent listed entity. The decision was bought forward following confirmation that AkzoNobel has rejected...
Former L’Occitane boss joins forces with CVS Capital Partners on The Body Shop takeover bid
Emmanual Osti, former head of L’Occitane, is joining forces with CVS Capital Partners to put forward a £850 million bid for The Body Shop, according to a report by The Sunday Times. CVS Partners, which last year sold control of Formula One to Liberty Media, is thought...
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