Brazil: L’Oreal to buy haircare group Niely
L'Oreal, the world’s largest cosmetics firm, has announced the signing of an agreement to acquire Niely Cosmeticos, Brazil’s largest independent hair coloration and hair care company. The value of the deal has not been disclosed.
Niely Cosmeticos has two main brands – Cor & Ton for hair coloration and Niely Gold for shampoos and care – and is sold at accessible prices, enjoying a large penetration among the country's middle class, L’Oreal said in a statement. Niely also has industrial and logistical facilities in Nova Iguacu, in the state of Rio.
Frederic Roze, Executive Vice-President of L'Oreal in charge of the Americas, said: "The acquisition of Niely Cosmeticos is a strategic move for L'Oreal in Latin America and Brazil, one of the biggest and fastest growing hair color and hair care markets in the world where consumers have a long tradition of beauty and demanding expectations".
Meanwhile Daniel Fonseca de Jesus, founder of Niely Group, commented: "We are delighted to join L'Oreal. We are convinced this operation will allow Cor & Ton and Niely Gold consumers to benefit from all of L'Oreal'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".
Mr Fonseca de Jesus will join L'Oreal Brazil's Strategic Committee as Vice-President.