Vasiliki Petrou, Unilever EVP and CEO Prestige, said: “Garancia is one of the leading brands in pharmacies with a strong positioning between natural and science, offering fantastic beauty products with a touch of magic. Thanks to Savéria’s vision and expertise in derma-cosmetics, Garancia’s hero product Pschitt Magique is much loved and has earned great loyalty from consumers across different generations. We are delighted to have the opportunity to grow this brand globally.”
Savéria Coste, Garancia CEO, said: “Since I created Garancia, I have always paid particular attention to product formulation, and I have striven to maintain a disruptive, innovation-driven approach within the company. Based on the combination of nature and science, my formulas are clean, sensory and so effective our consumers think they are magical! After sustained growth in France in recent years, Garancia is now ready to enter a new phase of its development, and Unilever Prestige would be the right partner to help Garancia achieve our ambitions, while maintaining our continued commitment to clean ingredients, creativity and excellence, which will guarantee the preservation of Garancia’s core values. I am excited by the opportunity to work with the Unilever Prestige team in this new chapter in our history."
Terms of the deal were not disclosed. The acquisition is expected to close in Q2 2019, subject to customary consultation process.