L’Oréal Plans To Acquire China's Leading Facial Masks Maker Magic Holdings

L’Oréal said it plans to acquire Magic Holdings, the largest manufacturer of facial masks in China and owner of the MG brand. A relatively young company, Magic Holdings has been growing at an amazing pace for its first five years of operations. L’Oréal's acquisition of Magic Holdings follows the French cosmetics company's acquisition of Mininurse in 2003 and Yue-Sai in 2004. These acquisitions have expanded L’Oréal's production capacities and demographic and socioeconomic market reach.