Unilever, a giant in the consumer goods sector, made a binding offer to buy the French cosmetics and dermocosmetics brand Garancia, created by Savéria Coste with clean and effective formulas combined with a scientific approach.
Garancia offers 38 premium facial and body care products sold predominantly by the French pharmacy channel and selective retail distribution.
“Garancia’s flagship, Pschitt Magique, has won the loyalty of consumers from different generations,” says Vasiliki Petrou of Unilever EVP and CEO of Prestige.
“Since I created Garancia, I have always paid special attention to the formulation of products, and I have been striving to maintain a disruptive and innovation-driven approach within the company. “After sustained growth in France in recent years, Garancia is now ready to enter a new development phase, and Unilever Prestige would be the right partner to help Garancia achieve our ambitions while maintaining our continued commitment to clean ingredients, creativity and excellencewhich will guarantee the preservation of Garancia’s core values. I am excited about the opportunity to work with the Unilever Prestige team in this new chapter of our history, “said Savéria Coste, CEO of Garancia.
The terms of the agreement were not disclosed. The acquisition should be completed in the second quarter of 2019, subject to the usual consultation process.