Sanofi has decided to divest its direct and indirect stake of approximately 19.3 per cent in the Yves Rocher Group to Société Financière des Laboratoires de Cosmétologie Yves Rocher, subject to certain closing conditions.
Upon closing of this transaction, which is expected to take place before the end of the third quarter, the Rocher family will control more than 95 per cent of the Group's capital. The transaction consideration is undisclosed.
Sanofi acquired a stake in the Yves Rocher Group's capital in 1973 and divested part of its stake in the early 2000s.
“We are pleased to have been able to support the development of the Yves Rocher Group for about 40 years,” said Jérôme Contamine, executive vice president, chief financial officer, Sanofi. “The decision to divest is in line with the Group’s objectives to focus on its strategic activities.”
Turning the page on this long-standing relationship with Sanofi, Bris Rocher, Chairman and Chief Executive Officer of the Yves Rocher Group, declared, "I thank Sanofi for this long-standing partnership and their support and contribution over the years."
The Yves Rocher Group is a family owned company (with more than 75% of the company owned by several generations of "entrepreneurs-creators"), financially stable and independent, with an original and atypical positioning (harvester, manufacturer and distributor). With a turnover of more than 2 billion euros in 2011, the Group counts 7 attractive brands that focus on beauty and well-being of women: Yves Rocher, Petit Bateau, Stanhome, Dr Pierre Ricaud, Daniel Jouvance, Kiotis and ID Parfums).Yves Rocher is an international group, established on five continents and enjoying a significant presence in 20 countries around the world, in different sectors including cosmetics, home care products and clothing.
Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme.