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We have have just caught wind of the sale of popular natural haircare brand multi-cultural beauty brand Carols Daughter being acquired by the beauty giant L’Oréal. L’Oréal announces today that it would be adding the brand to it’s portfolio. “This acquisition will enable L’Oreal USA to build a new dedicated multi-cultural beauty division as part of our Consumer Products business, and strengthen the company’s position in this dynamic market.” Frederic Roze, President and CEO of L’Oreal USA.
“I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oreal USA,” said Lisa Price, Founder and President of Carol’s Daughter. “L’Oreal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand and they have an understanding of the future of multi-cultural beauty. I could not be more proud to begin this next chapter of the Carol’s Daughter brand with them. I know that my mother (Carol) is smiling as well.” Carol’s Daughter will continue to operate out of their New York City headquarters under the brand’s current leadership team.