The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Foreo, the six-year-old Swedish beauty company known for its electric facial cleansers and toothbrushes, is working with advisers as it considers selling itself, people familiar with the matter said.
The firm could fetch more than $1 billion in a sale, the people said, asking not to be identified. PE firms are expected to be among the bidders, one of the people said. The plans are at an early stage, and the company may still decide against a sale, they said.
Foreo — founded by CEO Filip Sedic in 2013 — comes to market amid a steady stream of mergers and acquisitions in the personal care products sector, as large players such as Procter & Gamble and Johnson & Johnson strike deals to broaden their offerings.