Markwins Beauty Brands, the owner of Lip Smacker, wet n wild and Physicians Formula, has acquired LORAC Cosmetics.
Through the takeover, the company is entering the prestige cosmetics channel for the first time.
LORAC is Markwins’ fourth major acquisition in the past 15 years and is said to complete the company’s strategic portfolio of non-competing brands.
Stefano Curti, Global President of Markwins, said: “LORAC is the original professional make-up artistry brand, and Markwins is excited to add its unique market-positioning to our expanding brand portfolio.
“With LORAC, Markwins enters the prestige channel with an iconic Hollywood mainstay – expert products created under the intuition of make-up legend Carol Shaw, resulting in technologies that compel even the sharpest of beauty enthusiasts’ critical eye.”
Carol Shaw, LORAC’s founder, said she is “thrilled” to see Markwins’ re-energising the brand.
She said: “Markwins recognises the importance of honouring our PRO heritage and continuing to develop high-quality products that create effortless, ‘red carpet’ beauty for which LORAC is known.”
Markwins acquired AM Cosmetics including wet n wild and Black Radiance in 2003; Physicians Formula Holdings in 2012; and Aspire Brands with Bonne Bell and Lip Smacker in 2015.