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LVMH (Moet Hennessey Louis Vuitton) have aquired a majority stake in the cosmetic and fragrance manufacturer Fresh Inc, for an undisclosed sum.

Fresh, based in Boston USA makes cosmetics from natural ingredients and sells via it's own stores and via department stores including Neiman Marcus and Barney's.

Fresh's fragrances include the Hombre de Flores range.

The LVMH company has sales of 8.5 billion euros ($7.4 billion) in 1999, and said the biggest increase came from fragrances. Those sales jumped 63 percent. "The company is trying to expand its presence in American cosmetics and they're looking to grow faster through acquisitions,'' company spokeswoman Jessica Barist said. Other US cosmetics brand owned by LVMH include Hard Candy and BeneFit.

The acquisition is the 15th this year for LVMH. The company has added such brand names as Tag Heuer watches and Pucci fashions to its stable of brands Dom Perignon Champagne, Fendi leather goods and Guerlain fragrances.

LVMH's purchase of Fresh follows comments from Chief Executive Bernard Arnault saying the company could double in size in five years without additional takeovers, the Italian financial daily Il Sole/24 Ore reported last Wednesday.

LVMH also makes Christian Dior apparel, Moet & Chandon wines and Hennessy liquors.

Source LVMH

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