Groupe Rocher acquires Sabon for $129m

French cosmetics firm Groupe Rocher has acquired approximately 51% of Israel-based natural bath and body products chain Sabon for ILS500m ($129m).

Founded by Sigal Kotler-Levy and Avi Piatok, Sabon currently operates 175 stores in countries such as Israel, Japan, and the US, as well as several countries in Europe and Asia.  

With this purchase, Groupe Rocher intends to bolster its overseas expansion strategy, reported Globes.co.il.

As per the terms of the deal, Kotler-Levy and Piatok will continue to manage Sabon, while Groupe Rocher will have an option to acquire the remaining stake in the future.

Groupe Rocher has brands such as Yves Rocher and Petit Bateau. The company posted revenues of over €2bn of sales in 2015.

The deal will help Sabon move into new markets and launch stores in existing markets. Sabon has a 3,600m² facility in Kiryat Gat and a 4,600m² logistics centre, reported Haaretz.com.

 

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Image: Groupe Rocher brand, Yves Rocher store in Novosibirsk, Russia. Photo: courtesy of ?.?????.1/Wikipedia.