L’Oréal Agrees to Buy IT Cosmetics for $1.2 Billion in Cash

“L’Oréal SA agreed to acquire IT Cosmetics for $1.2 billion in its largest acquisition in eight years, adding more than 300 skin-care and makeup products to its lineup. IT Cosmetics, backed by TSG Consumer Partners, will become part of the Luxe division of L’Oréal as part of the all-cash transaction, according to a statement on Friday.” Read more at Bloomberg.