Brazil's Boticario eyes cosmetics acquisitions at home and abroad -CEO [Reuters]
Natura &Co Holding S.A. American Depositary Shares (NTCO)
Company Research
Source: Reuters
Brazil's Boticario eyes cosmetics acquisitions at home and abroad -CEO SAO PAULO, Feb 13 (Reuters) - Brazilian cosmetics company Grupo Boticario is considering domestic and foreign acquisitions as industry competition intensifies, its chief executive said on Thursday. The company is a major rival to Brazil’s Natura & Co , which became the world’s fourth-largest beauty group after acquiring Avon Products last year. “It is our duty to evaluate everything out there in the market,” CEO Arthur Grynbaum said at a press conference, citing increased competition since the Avon-Natura merger. Brazilian newspaper Valor Economico quoted Grynbaum as saying on Thursday that Boticario was eyeing the purchase of U.S.-listed Coty Inc’s Brazilian operations to increase market share in hair care. A press representative confirmed his remarks. Grynbaum told journalists that Chinese rivals have been posing a challenge with cheaper products in multi-brand shops. “They are very aggressive in terms of price,”
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