Groupe Yves Rocher Buys 51% of Turkey’s Flormar

PARIS — French family-owned beauty firm Groupe Yves Rocher announced on Thursday it has bought 51 percent of Turkish-owned beauty brand Flormar for an undisclosed sum.

The transaction, under which Flormar’s shareholders will continue to run the firm and oversee its development, is subject to approval by Turkish competition authorities, Groupe Yves Rocher said in a statement. Labor representatives at Yves Rocher have green-lighted the acquisition, it added.

Though best known for its cosmetics, Flormar also produces fragrances, personal care products and accessories. Its factory in the Turkish industrial city of Gebze, on the outskirts of Istanbul, produces more than 50 million units per year and the brand is carried in more than 70 countries.

Bris Rocher, chairman and chief executive officer of Groupe Yves Rocher, said the transaction would help to diversify the group’s geographical portfolio.

“Flormar does more than 50 percent of its total sales outside of the euro zone, in markets with strong growth potential (Turkey, the Middle East, Africa and Eastern Europe.) This acquisition-partnership will therefore contribute toward rebalancing the current geographic distribution of the group,” he said.

Flormar executives said the deal would give them access to Groupe Yves Rocher’s expertise in areas including e-commerce and in-store marketing, and other potentially strong regions like Russia.

Groupe Yves Rocher — whose brands include Yves Rocher, Petit Bateau, Stanhome, Dr Pierre Ricaud and Daniel Jouvance — posted sales of 2.1 billion euros, or $2.9 billion, in 2011 and employs about 15,000 people.