By  on October 20, 2014

L’Oréal USA on Monday signed a definitive agreement to purchase Carol’s Daughter, the urban beauty brand founded by Lisa Price in her Brooklyn kitchen in 1993. The acquisition “will enable L’Oréal USA to build a new dedicated multicultural beauty division,” said Frédéric Rozé, president and chief executive officer.

This story first appeared in the October 21, 2014 issue of WWD. Subscribe Today.

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