Sabon inks 100 million euro deal with French beauty brand Rocher

French conglomerate Groupe Rocher has acquired controlling interest in Israeli cosmetics brand Sabon in a deal estimated at 100 million euros ($104 million), the companies announced Monday.

While the majority of the deal's financial details were not disclosed, it is believed the French global cosmetics brand has acquired at least 51% of Sabon. According to financial daily Calcalist, the deal reflects a 120 million euro ($125 million) market value for the Israeli brand.

Sabon was founded in 1997 by Sigal Kotler-Levy and Avi Piatok. The company, which describes itself as a luxury bath, body, grooming and home ambiance product brand, operates 175 stores in 14 countries worldwide, and maintains significant presence in Israel, the United States, Japan and several European countries.

According to the financial daily Globes, Kotler-Levy and Piatok, who are expected to continue heading Sabon, stand to earn 125 million shekels ($32 million) each from the sale.

The Paris-based Groupe Rocher has significant presence in 20 countries worldwide and its flagship brand, Yves Rocher, is carried by 4,000 stores. The company is expected to acquire full control of Sabon in the future.