Loncolor producer starts looking at acquisition opportunities

Papillon Laboratoires Cosmetiques, producer of Loncolor hair dye, intends to increase its market share, with one of its options being the acquisition of another player in the industry, given the falling value of companies amid financial turmoil. "We are exploring acquisition opportunities, all the more since 2009 will be a difficult year for many companies in the field. We are not exclusively looking at the local market, but also at neighbouring countries, as well as at countries like France or Germany. Our budgets are doing alright, but other players will not be able to keep their businesses going in the context of the financial crisis. They will be tempted to sell at a much lower price than they would have before," said Sorin Popa, marketing consultant of Papillon Laboratoires Cosmetiques. In 2008, Loncolor posted sales worth 7m euros (25m RON), up 15% against 2007, when it recorded business worth 6m euros.