Rocher Group has sold Flormar to a consortium of Turkish investors

France-based Groupe Rocher, which owns brands such as Yves Rocher, Petit Bateau, Dr Pierre Ricaud, Stanhome, as well as Arbonne and Sabon, has signed a share purchase agreement with a company formed by a consortium of three Turkish investors (Esas Private Equity, Tacirler Asset Management PE Fund I and Credia Partners) to sell its Flormar brand, a leading cosmetics brand in Turkey.

The Rocher Group acquired a majority stake in Flormar in 2012 and 100% of the company in 2021.

“Over the past three years, Flormar has strengthened its leadership in the Turkish market, increasing its market share by 5 percentage points and consolidating its position as the number one cosmetics brand in Turkey, its historical market,” Groupe Rocher said in a statement.

The consortium plans to invest further to continue to develop Flormar, which is popular for its affordable nail polishes, pencils and lipsticks. The brand's expansion into new categories and its international expansion are being evaluated.
Groupe Rocher said the sale is part of its transformation plan announced last July. The aim is to "free up wiggle room" to invest in other priority projects, especially in Asia. Despite Flormar's growth potential, the group wants to refocus on its main brands.