Manufacturing Industry
Estee Lauder considered Ales Groupe purchase.(INTERNATIONAL NEWS)
Cosmetics International, March, 2008
In a recent frank interview, William Lauder revealed that Estee Lauder had considered the acquisition of Ales Groupe last July.
Lauder told the Wall Street Journal that the company had discussed a 500-600m [euro] bid for the French cosmetics and fragrance business, responsible for the Phyto hair care brand, Caron fragrances and Lierac skin care products.
Eagerly backed by Ronald Lauder, the deal was designed to offset Lauder's dependence on department stores and take the company further into the growing European pharmacy channel. However, opposition from Leonard Lauder was said to have scuppered the deal.
Such family arguments may be a thing of the past now that new president Fabrizio Freda has taken up his position. However, industry sources...
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