L’Oréal Finalizes Buy of Niely Cosmeticos Group

PARIS — L’Oréal said Tuesday it has finalized the acquisition of Niely Cosmeticos Group in Brazil. The French beauty giant, which announced the deal in September, described Niely as the largest independent hair-color and hair-care company in Brazil. Terms of the deal were not disclosed. In 2014, Niely generated revenue of 406 million Brazilian reals, or $173.4 million at average exchange for the year. The firm’s two main brands are Cor & Ton for color and Niely Gold for shampoo and care. Niely’s distribution includes supermarkets, pharmacies, perfumeries and wholesalers. “A strategic move for L’Oréal in Brazil and [the] Spanish-speaking Latin American zone, the acquisition of Niely Cosmeticos will complement the products offered by L’Oréal’s Consumer Products Division in Brazil,” stated the company. Daniel Fonseca de Jesus founded Niely in 1981. It has industrial and logistics facilities based in Nova Iguaçu, part of the greater Rio de Janeiro area.

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India’s Cotton Exports to Tank 41 Percent as China Curbs Buying

MUMBAI (Reuters) – Cotton exports from India, the world’s second-biggest producer and seller, are expected to fall 41 percent to 7 million bales this crop year ending on Sept. 30 as top buyer China curbs purchases, Textile Commissioner Kiran Soni Gupta said. India on Tuesday also lowered the production estimate to 39 million bales from the previous forecast of 40 million bales made in October. The prior export forecast was 9 million bales for this season. China, the world’s largest cotton importer, accounts for more than 60 percent of total raw cotton exports from India. The rest goes to Bangladesh, Pakistan and Vietnam.

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