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Nestle and L'Oreal to end Inneov joint venture in 2015

Published 27/11/2014, 17:43
© Reuters. The logo of French cosmetics group L'Oreal is seen on the company's building in Clichy, near Paris
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PARIS (Reuters) - French cosmetics giant L'Oreal (PA:OREP) and food group Nestle (VX:NESN) on Thursday announced their intention to end their nutritional supplement joint venture Inneov as of the first quarter of next year.

© Reuters. The logo of French cosmetics group L'Oreal is seen on the company's building in Clichy, near Paris

Inneov, created in 2002, "has not met the development expected by both partners," the groups said in a statement. In 2013, Inneov generated sales of 52 million euros (41.26 million pounds).

(Reporting by Astrid Wendlandt, editing by Leila Abboud)

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