L’Oreal agrees to acquire IT Cosmetics for $1.2B
French cosmetics firm L’Oreal has agreed to acquire US-based IT Cosmetics for $1.2 billion, its largest acquisition in eight years, a statement released on Friday read. The all-cash deal will reportedly add over 300 skin-care and makeup products to L'Oreal's lineup. “The brand... earned the devotion of... consumers and we see potential for significant growth,” an official said.