On 4 February 2020, after some strategic thinking to ensure the best possible development for the Roger & Gallet brand, L’Oréal announced it had entered into exclusive negotiations with the French investment holding company Impala to sell this brand.
Founded in Paris in 1862, Roger & Gallet emerged from the world of Apothecary Perfumery inspired by the French art de vivre. Part of L’Oréal since 2008 following the acquisition of Yves Saint Laurent Beauté, Roger & Gallet offers a rich catalogue of fragrances in a range of perfumes, toiletries and skincare.In 2018, the brand generated sales of €52 million.
On 29 June 2020, L’Oréal and French investment holding company Impala announced that they had finalised the sale of the Roger & Gallet brand.
For 2022, these changes related to Skinbetter Science acquisition.
For 2021, these changes mainly related to the Takami and Youth to the People acquisitions.
For 2020, these changes mainly related to the Azzaro-Mugler and Thayers Natural Remedies acquisitions.
On 7 December 2021, the L’Oréal Board of Directors approved a strategic transaction consisting of the repurchase by L’Oréal, as part of its share buyback programme, of22.26 million of its own shares – representing 4% of its capital –from Nestlé. The total price paid to Nestlé was €8.904 billion.
All shares redeemed by L’Oréal have been bought back for the express purpose of cancelling them. The transaction had a marginally accretive impact on the diluted net earnings per share in 2021, given that the shares were repurchased at the end of 2021, but will have a full-year accretive impact of at least 4% for the 2022 financial year.
This transaction led the Group to take out a bridging loan of €1.9 billion and issue commercial paper for €2.3 billion, with the balance financed by the cash available at 31 December 2021. These loans have been fully repaid in 2022.
This conflict has no material impact on the Group.
The Group decided to temporarily close all its own stores and directly operated counters in department stores in Russia as well as suspend all its business and advertising investments in the country.
The Group also decided to temporarily shut down the e‑commerce sites of its brands in Russia.
Pursuant to the sanctions introduced by the European Union and the United States, the Group also suspended the sale of all its products except essential everyday items.
The Group issued a €3 billion bond in three tranches, one of which was in the amount of €1.25 billion and included environmental (ESG) criteria linked to the Group’s CSR performance (note 9.1).
