Nestlé, L’Oréal Form Joint Venture

Nestlé, L’Oréal Form Joint Venture
Nestlé S.A., Vevey, Switzerland, has signed a joint venture agreement with L’Oréal S.A., Paris, France. The name of the new joint venture is Laboratoires Inneov and the aim is to develop a global market for nutritional supplements for cosmetic purposes. The joint venture company will be based in France and both Nestlé and L’Oréal will each own 50 percent of the business. The nutritional supplements resulting from research are intended to improve the quality of skin, hair and nails by supplying nutrients essential to their physiology. Products will be created using a process developed by Laboratoires Inneov.