YvesRocher takes control of Turkey's Flormar: report
French cosmetics group Yves Rocher has bought a 51 percent stake in Turkish beauty products company Flormar in a deal estimated at $150 million, the Turkish press reported Thursday.
The deal worth 122 million euros should be concluded soon, according to the Milliyet daily, which said it was unclear whether Flormar's founding Senbay family would still remain in control of day-to-day operations.
With sales of more than $100 million per year, Flormar exports its products to more than 60 countries on four continents, according to the company.
The company founded in 1972 has more than 98 of its own brand shops in Turkey and more than 200 abroad.
© 2012 AFP