“L’Oreal SA, (OR) the world’s largest cosmetics maker, agreed to buy the Urban Decay brand from U.S. private-equity firm Castanea Partners to expand in specialty makeup.
Urban Decay had sales of $130 million in the year ended June 2012, the French company said today in a statement without disclosing terms of the deal. Regulatory approval is expected before the end of the year, L’Oreal said.
“Urban Decay is exactly the type of brand L’Oreal needs to beef up its makeup portfolio in the prestige channel,” Pablo Zuanic, an analyst at Liberum Capital in New York, wrote in a note today. He estimates that L’Oreal purchased the Newport Beach, California-based company for about $250 million to $300 million.”
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