Mumbai-based Cheryl’s Cosmeceuticals recently got acquired by French Cosmetics brand L’Oréal. No investment banker was involved in the deal and the promoters of Cheryl say that they never wanted to be acquired or were never looking for a private equity investor. The deal, which came as a surprise, has given Cheryl the opportunity to enter the international markets and expand its footprint to 40,000 salons from 10,000 salons currently. In a chat with VCCircle, Oscar Pereira, director, Cheryl’s Cosmeceuticals, talks about how the deal happened, how the company was approached by L’Oreal and how things will change for Cheryl’s in 12 months.


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