The major players continue acquiring small growth plays, it's CL this time who acquires one more firm from the skin care sector where Synergy (SNYR) has strong and growing presence thanks to its skin care brands:
Colgate-Palmolive (NYSE:CL) announces that it purchased skin care brands PCA Skin and EltaMD in two separate transactions of undisclosed amounts.
The company says the acquisitions will help enter the highly attractive professional skin care category.
PCA Skin is a leader in medical-grade in-office and take-home skin care products, while EltaMD is a leading physician-dispensed sun care brand with a unique positioning around broad-spectrum, everyday use, physician-dispensed sunscreen.
Estimated 2017 net sales for PCA Skin and EltaMD combined approximate $100M.
Thee transactions are expected to have no impact on earnings in 2018.