CAPE TOWN - JSE-listed African Equity Empowerment Investments Limited (AEEI), has announced that it has acquired a majority stake in prestigious cosmetics distribution company, Orleans Cosmetics (Pty) Limited (Orleans).
Orleans is the exclusive Southern African distributor of imported, high-end cosmetic brands such as Gatineau, NUXE, RVB SKINLAB/diego dalla palma professional and Sothys. These products are sold to leading retailers such as Truworths, Woolworths etc. as well as to spas and beauty salons.
Khalid Abdulla, Group Chief Executive Officer of AEEI said, “I am delighted that AEEI has concluded the deal with Orleans. Orleans was acquired to expand our health and beauty division, which is right on track in terms of organic and acquisitive growth and in line with AEEI’s Vision 2020 Vision strategy.”
AEEI’s health division has been growing steadily over the past few years, yielding excellent results. This acquisition is a strategic move to complement AEEI’s strong health and beauty division through the addition of leading cosmetic brands to its existing portfolio. The acquisition of Orleans also talks to a strong consumer-focused growth path for the
diversified investment group.
Alasdair Neilson, the previous owner of Orleans said, “I am confident that AEEI is exceptionally well-positioned to take Orleans to the next level through further value creation for the company. Orleans has been ready for this monumental shift in business strategy, especially with a successful Black Economic Empowerment business with solid credentials.