L’Oreal USA signs deal to acquire Carol’s Daughter

L’Oreal USA, the largest subsidiary of the L’Oreal Group, has inked a definitive agreement to acquire Carol’s Daughter, an American beauty brand.

For the 12 months ending September 30, 2014, Carol’s Daughter had net sales of $27m.

L’Oreal USA President and CEO Frederic Roze said: "Carol’s Daughter possesses an expertise in the multi-cultural consumer segment, a rapidly expanding market that represents an important growth opportunity in the beauty industry.

"This acquisition will enable L’Oreal USA to build a new dedicated multi-cultural beauty division as part of our Consumer Products business, and strengthen the company’s position in this dynamic market."

L’Oreal USA believes that this acquisition will further aid its American brands which includes Maybelline NY, Kiehl’s, Essie, Urban Decay, Clarisonic and NYX.

Carol’s Daughter will continue to operate out of their New York City headquarters under the brand’s current leadership team.

Carol’s Daughter founder and president Lisa Price said: "L’Oreal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand and they have an understanding of the future of multi-cultural beauty. I could not be more proud to begin this next chapter of the Carol’s Daughter brand with them. I know that my mother (Carol) is smiling as well."

Headquartered in New York City, Carol’s Daughter is a premier American multi-cultural beauty brand created by Lisa Price in 1993.

Following a multi-channel distribution model, Carol’s Daughter offers a comprehensive range of products that are available at specialty beauty stores and mass retailers on HSN through e-commerce and at Carol’s Daughter branded stores in New York City.