Yves Rocher buys remaining 33% Sabon stake

Avi Piatok and Sigal Kotler-Levi, photo: PR

The French cosmetics company bought 66% of Israeli cosmetics company Sabon in 2016 at a company valuation of NIS 500 million.

French cosmetics group Yves Rocher has acquired the remaining 33% of Israeli cosmetics company Sabon, which was founded by Sigal Kotler-Levy and Avi Piatok. In December 2016, Rocher acquired 66% of Sabon at a company valuation of NIS 500 million and is now buying the remaining stake for about NIS 165 million.

Following the acquisition, founders Sigal Kotler-Levy and Avi Piatok are expected to leave the company but will continue to serve as consultants to the CEO over the next two years.

Sabon has 480 employees and operates 180 stores in 14 countries including 40 stores in Israel, 40 stores in Japan, 17 in the US and 13 in France. Sabon's headquarters is in Azor near Tel Aviv, while in Kiryat Gat it has a 3,600-sq.m. recently renovated production plant and a 4,600-sq.m. logistics center from which products are sent worldwide.

Yves Rocher operates in Israel through a chain of stores and a franchise given to Castro Model Ltd. (TASE: CAST).

Published by Globes [online], Israel business news - www.globes-online.com - on July 1, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Avi Piatok and Sigal Kotler-Levi, photo: PR
Avi Piatok and Sigal Kotler-Levi, photo: PR
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