Business

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.

Chris Reidy can be reached at reidy@globe.com.