L'Oréal has sold green beauty brand Sanoflore to French investment fund Ekkio Capital and Sergio Calandri, the founder of Inula Group and Sanoflore’s new CEO.
The financial details of the sale have not been disclosed.
L'Oréal acquired Sanoflore – a French beauty company which specialises in the manufacture of certified organic cosmetics – in 2006.
Sanoflore recorded sales of €2.9m for its essential oil-based beauty products in 2021, according to legal documents.
The brand sat in L’Oréal’s Dermatological Beauty division.
“L’Oréal has a portfolio of complementary brands,” said a statement from L’Oréal Groupe.
“The group’s strategy is to acquire and, sometimes, exit, the brands, to keep a very strong portfolio and the complementarity it needs to thrive over the long term.
“The success of L’Oréal Dermatological Beauty is based on a strategy and a business model focused on brands prescribed by healthcare professionals.
“Under these conditions, the division has decided to focus on the dermatological brands in its portfolio.”
Investor Ekkio Capital specialises in small- and medium-sized companies in the health and beauty space, including balneotherapy group Calicéo.
Inula Group’s portfolio, meanwhile, includes supplement brand HerbalGem and natural elixirs range Biofloral.
Calandri posted on LinkedIn that he is “delighted” to take over Sanoflore with Ekkio Capital.
“Sanoflore is now independent again, with new management, new shareholders and new ambitions,” he said.
“We are delighted to welcome the research and formulation teams of Laboratoire Sanoflore who have developed a unique range of organic facial treatments.”
It is a real time of change for L’Oréal.
The French beauty giant has just opened a new headquarters in London’s White City to celebrate 90 years of being in the UK.
It has also reshuffled its international management team to support its next phase of growth, with four new leadership appointments taking place in Q1 2024.