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.
For more information on related topics, visit the following: