Puig Brands Targeting Skin-Care, Niche Fragrance Acquisitions — Market Talk

About this update from Puig Brands, S.a. Class B

Puig Brands' bolt-on strategy remains a priority for the Spanish beauty company with skin care and niche fragrance as core targets, Jefferies analysts write following a sell-side meeting on Thursday. "We see capacity for deals in the 100 million euros to 200 million euro sales range," they say. Merger talks between the Barcelona-based company and U.S. cosmetic company Estee Lauder ended last month after monthslong discussions between the two companies. Puig Chief Executive Jose Manuel Albesa said at the time that the company's robust capital structure gives it flexibility to pursue a range of strategic choices aligned with the board's long-term priorities. Shares are down 0.8% at 16.02 euros. ([email protected])

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