Today's Transactions:
Li & Fung Picks Up Lornamead for $190M
The target owns Finesse shampoo and Aqua Net hairspray
Li & Fung Ltd. (HKX: 00494) has acquired Lornamead Acquisitions Ltd., which owns personal-care brands, including Finesse shampoo, reportedly for $190 million.
Lornamead also owns deodorant and soap maker CD, hair-spray brand Aqua Net, soap and perfume company Yardley and lip balm maker Lypsyl. The Surrey, U.K.-based company sells its brands through large retailers, including CVS and Walgreens in the U.S., Rossman and DM in German, and Boots, Texco and Sainsbury in the U.K.
Hong Kong-based Li & Fung is a consumer goods distribution and logistics group.
In January, Swiss company Clariant announced it would buy CRM International SAS, a company that makes ingredients for the personal care industry. In June, High Ridge Brands Co. aquired the rights to White Rain, which makes shampoo.
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