Cosmetics giant L’Oreal has acquired US firm NYX Cosmetics.
The terms of the deal were not released by the global beauty products firm.
The move will help L’Oreal expand its range of make-up brands in North America.
The cosmetics group said it remains “confident” that it will find other opportunities “this year or next year”.
LA-based NYX Cosmetics reported sales of $93 million for its year ending May 2014.
The beauty products firm has make-up lines in 70 countries.
The company has seen tremendous growth over the past ten years.
“I have complete confidence that L’Oreal will remain true to its brand identity and mission,” said Toni Ko, founder of NYX.
The company will be run by its existing management team.
“We thought it was a great opportunity and we took it,” said L’Oreal chief executive Jean-Paul Agon.
“We are pretty good at seizing brands that are at the early stage of development and making them huge.”
© 2014 - European Supermarket Magazine
