Lorac Cosmetics acquired by Markwins Beauty Brands

Markwins Beauty Brands has announced it has completed its purchase of Lorac Cosmetics, the fourth acquisition in 15 years for the privately held Markwins.

Financial terms of the deal were not disclosed - Lorac Cosmetics, LLC

"Markwins' expanding success is simple at its core: we respect that different people have different needs. Whether culturally or economically, we understand that we need to satisfy the global consumer by continuing to acquire and develop disparate brands – one brand can't conquer the world," said Eric Sung-Tsei Chen, CEO of Markwins, in a release.

Lorac was founded two decades ago by celebrity makeup artist Carol Shaw. Shaw developed the line to provide a red carpet-ready solution for her clients with sensitive skin.

Stefano Curti, global president of Markwins called Lorac the "original professional makeup artistry brand," adding, "With Lorac, Markwins enters the prestige channel with an iconic Hollywood mainstay."

Other Markwins brands are Wet n Wild, Lip Smacker, Black Radiance and Physicians Formula. The company's products are distributed in 80,000 doors in 80 countries in drugstore, department, specialty, mass and food stores.

As part of the acquisition, Shaw will continue to be involved with Lorac as lead brand consultant. Financial terms of the deal were not immediately disclosed.

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