L’Oreal to Buy Urban Decay to Expand in Specialist Makeup

L’Oreal SA, the world’s largest cosmetics maker, agreed to buy the Urban Decay brand from U.S. private-equity firm Castanea Partners to expand in specialty makeup.

Urban Decay had sales of $140 million over the last twelve months, more than three times its revenue when Castanea bought it in 2009, the firm said today without disclosing terms of the deal. Regulatory approval is expected before the end of the year, Castanea said.