L'Oréal acquires Brazil's Niely Cosmeticos
Continuing its push into emerging markets, L'Oréal said it would acquire Brazil's Niely Cosmeticos.
The French beauty giant described Niely as the largest independent hair color and hair care company in Brazil, generating net revenues of 405 million Brazilian reals, or 140 million euros, in 2013.[...] "The acquisition of Niely Cosmeticos is a strategic move for L'Oréal in Latin America and Brazil, one of the biggest and fastest growing hair color and hair care markets in the world," [...]
Investment bank Michel Dyens & Co. advised Niely's shareholders in the transaction, according to sources. [...]