Private equity firm Castanea Partners to sell Urban Decay cosmetics brand to L’Oréal

Castanea Partners, a private equity firm based in Newton, said it has agreed to sell the Urban Decay cosmetics brand to L’Oréal, a global beauty company.

Terms of the transaction were not disclosed. The transaction is expected to close by the end of the year.

According to a Castanea Partners press release, the Urban Decay brand emphasizes “femininity and irreverence.”

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The company earned wholesale revenue of $140 million over the past 12 months, more than three times its revenue at the time of Castanea’s investment in 2009, Castanea said in its release.