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Acquisition of $28 million company bolsters L'Oréal's share of nail color and care segment.
April 21, 2010
By: TOM BRANNA
Editor
L’Oréal USA, the New York-based subsidiary of L’Oréal S.A., has signed an agreement to acquire the Essie cosmetics business. A purchase price was not disclosed. Essie Cosmetics, Ltd., was founded in 1981 by Essie Weingarten, who still serves as the company’s president.Based in Astoria, NY, the company offers a growing line of nail colors, treatments, accessories, spa products and lip glosses.Essie’s net sales through the last 12 months were $28 million. “This strategic acquisition will en...
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