Oriflame’s Shareholders Accept Founding Family’s Offer to Buy

The remaining shareholders of European beauty brand Oriflame have accepted a bid by the founding af Jochnick family to buy out the group for full ownership of the company. After the initial offer of 9 billion crown (US$969 million) was made in May, other owners representing 60.5 percent of shares had accepted the bid from the founding family, which already owns 31 percent of Oriflame. Though the company is valued at 13 billion crowns, board members had supported the sale, considering an uncertain outlook for the company, which has been struggling in several key markets with share prices continuing to drop.