Global Cosmetic Industry's recent beauty M&A roundup detailed the types of brands, investors and brands looking to grab up the hottest up and coming industry players. Now, on the heels of its acquisition of Atelier Cologne, L'Oréal has announced that it has purchased IT Cosmetics from TSG Partners for $1.2 billion.
IT Cosmetics hit $300 million in sales last year with products such as "clinically proven, innovative, problem-solving" makeup and skin care.
“At IT Cosmetics, we truly believe every woman is beautiful and we create products that are not only game-changing in the beauty industry, but are life-changing for real women everywhere," said Jamie Kern Lima, co-founder of IT Cosmetics. "Our incredible growth trajectory to date is in large part thanks to our extremely talented team at IT Cosmetics, our passionate customers who call themselves IT Girls, and our incredible partners including TSG. Partnering with TSG was one of the best decisions we made in our journey and their strategic support these past few years, along with their unwavering encouragement of Paulo [Lima] and me to pursue the vision we have for this company, has been invaluable. As we gear up for this next chapter in our company’s story, I know that TSG’s mark will prove to be indelible.”