L'Oreal acquires Interconsumer Products in Kenya

L'Oreal has acquired the health & beauty business of Interconsumer Products (ICP) in Kenya from its founding shareholder. With a turnover of approximately euro 15 million in 2012, ICP is a significant player on the Kenyan beauty market, with strong positions in the hair and skin care markets. The products are manufactured in Nairobi and sold in East African countries.

This acquisition highlights the strategic importance of Africa for L'Oreal and demonstrates its market potential driven by a rising middle class, growing income and long tradition of beauty practices.

"ICP's acquisition is an important milestone for L'Oreal in Kenya. It broadens our product offer with accessible brands, and strengthens the group's position in the mass market. This acquisition will also accelerate our development in Eastern Africa," said Geoff Skingsley, executive vice-president, Africa and Middle East Zone.