NEWTON, Mass. — L’Oréal has signed an agreement with Castanea Partners to acquire the fashion-forward, edgy beauty brand Urban Decay.
Terms of the deal, which is expected to close by the end of the year, were not disclosed. In the fiscal year ended in June 2012, Urban Decay, which is sold in such beauty retailers as Ulta and Sephora, recorded net sales of $130 million.
In the United States, Urban Decay will report to Carol Hamilton, president of L'Oréal Luxe USA.