Essie buyout to increase L'Oréal share in nail colour market
23 Apr '10
1 min read
L'Oréal USA announced the signature of an agreement to acquire Essie Cosmetics, the ultimate nail color authority in the US, founded in 1981 by Essie Weingarten, and mainly sold in American salons and spas.
Essie's net sales through the last 12-month period were $28 million.
This acquisition will enable L'Oréal to increase its share in the nail color and care market which has seen significant growth year over year.
The acquisition is expected to be completed within 60 to 90 days, subject to customary US and international regulatory approvals.
marketing@alchempro.com
