NEW DELHI — L’Oréal, the world’s largest beauty company, has made its first acquisition in India, a market it has targeted for significant future growth, by signing a deal to buy Cheryl’s Cosmeceuticals, a skin-care manufacturer with $3.1 million in annual sales and distribution in 10,000 salons.
The acquisition was the first for Jean-Christophe Letellier, who took over as managing director of L’Oréal India on Aug. 1. “This acquisition helps complete our professional product portfolio,” he said.
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