L'Oréal to acquire Brazillian brand Niely Cosmeticos

L'Oréal announced today that it has signed an agreement to acquire Niely Cosmeticos in Brazil. Founded in 1981 by Daniel Fonseca de Jesus, Niely Cosmeticos is the largest independent hair coloration and haircare company in Brazil, one of the world's largest hair color and hair care markets. With a net revenue of 405 million Brazilian Reals (140 million euros) in 2013, the Niely Cosmeticos group has two main brands: Cor & Ton for hair coloration and Niely Gold for shampoos and care. Sold at accessible prices and enjoying a large penetration among the country's middle class, Niely Cosmeticos products are widely distributed throughout retailers and wholesalers, supermarkets, pharmacies and perfumery chains. Daniel Fonseca de Jesus, founder of Niely Group, will be joining L'Oréal Brazil's Strategic Committee as Vice-President. The closing is subject to the usual regulatory approvals.