L’Oréal Acquiring Thayers Natural Remedies
L’Oréal has signed an agreement to acquire Thayers Natural Remedies, a skincare brand from Henry Thayer Company.
The brand will be integrated into L’Oréal’s consumer products division. Financial terms weren’t disclosed.
The Easton, CT-based Thayers Natural Remedies was founded in 1847, and counts Witch Hazel Aloe Vera Formula Facial Toner as its flagship product. The company, which is distributed through mass and beauty retailers, drugstores and e-commerce, recorded $44 million in sales in 2019.
L'Oréal is No. 14 on the CGT Top 100 Consumer Goods Companies of 2019 list, tallying $29.68 billion in sales. It was named one of the Most Ethical companies of 2020 by Ethisphere earlier this year.
Stéphane Rinderknech, president and CEO of L’Oréal USA, executive VP North America, lauded Thayers’ long heritage and consumer connection in a statement. “Built on a foundation of top-rated skincare products, the brand is more relevant today than ever before. We believe in its growth potential and unique positioning in the mass skincare market.”
“We are thrilled to welcome Thayers Natural Remedies, a true ‘love brand’ at the intersection of two major skincare trends: nature and health,” added Alexis Perakis-Valat, president of L’Oréal’s consumer products division. “This acquisition is part of our strategy to develop our skincare business all around the world and complements perfectly our North American skincare brand portfolio.”
