L’Oréal announced today that it has finalized the acquisition of Brazil’s largest hair care and hair colouration company, Niely Cosmeticos.
Niely Cosmeticos operates two main brands, Cor & Ton for hair colouration and Niely Gold for shampoo and hair care, both of which are widely distributed across the country through retailers, wholesalers, supermarkets, pharmacies and perfumery chains. Last year, the company recorded a net revenue of 406 million Brazilian Reals in 2014 (approx. 130 million euros).
A strategic move for L’Oréal in Brazil and Spanish-speaking Latin America Zone, the acquisition of Niely Cosmeticos will complement the products offered by L’Oréal’s Consumer Products Division in Brazil. Furthermore, L’Oreal will gain use of Niely Cosmeticos’ industrial and logistical facilities in Nova Iguaçu, Rio de Janeiro.
Daniel Fonseca de Jesus, who founded the Niely Cosmeticos in 1981, will be joining L’Oréal Brazil’s Strategic Committee as Vice-President. He commented, “We are delighted to join L’Oréal. We are convinced this operation will allow Cor & Ton and Niely Gold consumers to benefit from all of L’Oréal’s marketing and Research & Innovation expertise. It is also a great opportunity for our people to pursue Niely’s adventure within the world’s leading beauty company.”
Didier Tisserand, President of L’Oréal Brazil added, “We are thrilled to welcome Niely to the L’Oréal group. Niely benefits from an excellent position and high penetration of the growing Brazilian middle class and as such will positively complement the products offered by our Consumer Products Division in Brazil.”
Terms of the deal have not been disclosed.