Investing.com – French cosmetics giant L’Oréal SA (EPA:) is set to acquire Gowoonsesang Cosmetic, the South Korean skincare company owned by the Mibelle Group, Reuters reported citing people with knowledge of the deal.
An announcement could be made as soon as Monday, the Reuters report said.
Both L’Oréal and Migros did not immediately respond to Investing.com’s request for comment.
Mibelle, part of Swiss retailer Migros, acquired a stake in South Korea’s Gowoonsesang Cosmetics in 2018, which sells skin care products under the Dr.G brand.
Earlier this year, Migros conducted a strategic review for Mibelle Group to find a new owner for the company.
