European Report

The German Wella group (cosmetics, hair-care products, perfumeries) has announced the acquisition of the American hair-care group Graham Webb for an undisclosed sum. The acquisition has been conducted through the Darmstadt group's American subsidiary, Wella Corporation, based in Los Angeles, California, and is subject to the approval of America's competition authorities. Wella Board Chairman Heiner Guertler claims the acquisition will help to achieve two strategic objectives. On the one hand, it will strengthen Wella's position as the second player on the American hair-care products market, whilst on the other, the acquisition will generate more turnover and profits, enhancing the group's international profile. Created in 1990, Graham Webb International posted turnover of $78 million (Euro 85.7 million) last year, including $2 million outside North America.