CHICAGO — HCP & Co. has signed an agreement to sell its investment in NYX Cosmetics to L'Oréal, as part of the sale of the company.
Terms of the transaction were not disclosed. Closing of the transaction is subject to regulatory approval.
NYX Cosmetics was created in 1999 by entrepreneur Toni Ko and is rooted in professional makeup artistry. NYX has achieved its prominence through social media, with projected 2014 revenues expected to surpass $100 million.
Since HCP's initial investment, NYX's revenue has increased more than five times while significantly expanding its shelf presence and distribution. The brand is currently distributed through professional beauty stores, specialty cosmetics stores, e-commerce and some NYX-branded stores.