The French cosmetics giant announced today that it has signed an agreement to acquire Niely Cosméticos, the largest independent hair coloration and hair care company in Brazil.

Founded in 1981, Niely Cosméticos achieved a net revenue of 405 million Brazilian Reals (140 million euros) in 2013 and has industrial and logistical facilities in Nova Iguaçu, in the State of Rio. The Niely Cosméticos group has two main brands: Cor & Ton for hair coloration and Niely Gold for shampoos and care. “Sold at accessible prices and enjoying a large penetration among the country’s middle class, Niely Cosméticos products are widely distributed throughout retailers and wholesalers, supermarkets, pharmacies and perfumery chains,” L’Oréal says.

"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," said Daniel Fonseca de Jesus, founder of Niely Group, who will be joining L’Oréal Brazil’s Strategic Committee as Vice-President.

Brazil is one of the world’s largest and fastest growing hair colour and hair care markets.