Oriflame Cosmetics announced it has signed a Heads of Agreement to sell Oriflame UK Ltd. (OUK), the company in which the group conducts all its UK and Ireland sales operations, to Premier Direct Group plc (PDG). PDG will continue Oriflame sales operations in these countries. Under the terms of the contract, Oriflame shall be liable for all costs associated with the transfer and assume the outstanding pension liabilities. As previously reported, Oriflame's UK operation has experienced losses for years. Oriflame is a cosmetics company that sells natural skin care and cosmetic products through an independent sales force.
Oriflame to Sell its UK and Ireland Operation
Oct 30th, 2008
