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By Chesney Hearst, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – On Monday, September 8th, French cosmetics company L'Oréal announced its plans to acquire Niely Cosmeticos Group, the largest independent hair-care and hair coloration company in Brazil. This new acquisition supports the company’s goal to add around fifty million Brazilian customers by 2020.

"We are thrilled to welcome Niely to the L'Oréal group," President of L'Oréal Brazil Didier Tisserand, said in a prepared statement. "Niely benefits from an excellent position and high penetration of the growing Brazilian middle class and as such will . . .

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