Industria
L'ORÉAL: News Release : "L'Oréal signs agreement to acquire IT Cosmetics"
- L'Oréal announced today the signing of a definitive agreement to acquire , one of the fastest growing prestige beauty brands in the United States for a cash purchase price of 1.2 billion US dollars. Founded in 2008 by Jamie Kern Lima and Paulo Lima and co-owned by TSG Consumer Partners, IT Cosmetics was developed with leading plastic surgeons to provide women with innovative, problem-solving skincare and makeup products that empower them to feel confident and beautiful.
IT Cosmetics offers more than 300 high-performance beauty products focusing on color cosmetics, skincare, brushes and tools. IT Cosmetics' multi-channel distribution model includes select television shopping channels including QVC and TSC, specialty stores including ULTA and Sephora, and the brand's website. For the 12 months ending June, 2016, IT Cosmetics had net sales of 182 million US dollars, up by 56%.
Frédéric Rozé, President and CEO of L'Oréal USA
IT Cosmetics will become part of the Luxe Division of L'Oréal.
said Nicolas Hieronimus, President L'Oréal Selective Divisions.
The brand will continue to operate out of its Jersey City, New Jersey headquarters under the current leadership team.
" said Jamie Kern Lima, Co-Founder & CEO, IT Cosmetics. " ."
The closing is subject to the standard regulatory approvals and other customary conditions.
www.loreal.com
www.loreal-finance.com .
Mrs Stephanie CARSON-PARKER
Tel: +33 (0)1 47 56 76 71
stephanie.carsonparker@loreal.com
Mrs Clémence FUGAIN
Tel: + 33 (0)1 49 64 61 60
clemence.fugain@loreal.com
Mr Matthew DiGirolamo (U.S. media)
Tel: (212) 984-4133
mdigirolamo@us.loreal.com
For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L'Oréal Finance app, alternatively, call +33 1 40 14 80 50.
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Copyright GlobeNewswire
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Source: %s via Globenewswire