NEW YORK — L’Oreal USA has entered into an agreement to buy natural beauty products maker Carol’s Daughter.

Financial terms of the transaction weren’t disclosed. The agreement is pending regulatory approval as well as other customary closing conditions.

In announcing the deal on Monday, L’Oreal described Carol’s Daughter as "a premier American multicultural beauty brand with a pioneering heritage in the natural beauty movement."

Founded by Lisa Price in 1993, Carol’s Daughter offers a range of hair, body and skin care products made with natural ingredients. Its products are sold at specialty beauty stores, mass retailers (such as Ulta, Target and Sephora/JCPenney), on HSN, through e-commerce channels and at Carol’s Daughter-branded stores in New York City.

Carol’s Daughter totaled net sales of $27 million for the 12 months ended Sept. 30, L’Oreal reported.

L’Oreal noted that the acquisition enhances its lineup of U.S. brands, which includes Maybelline NY, Kiehl’s, Essie, Urban Decay, Clarisonic and NYX.

"Carol’s Daughter possesses an expertise in the multicultural consumer segment, a rapidly expanding market that represents an important growth opportunity in the beauty industry," Frederic Roze, president and chief executive officer of L’Oreal USA, said in a statement. "This acquisition will enable L’Oreal USA to build a new, dedicated, multicultural beauty division as part of our consumer products business and strengthen the company’s position in this dynamic market."

L’Oreal said Carol’s Daughter will continue to operate out of its New York City headquarters under its current leadership team.

"I have worked hard for the past 21 years nurturing my brand and am thrilled that we will have a new home with L’Oreal USA," stated Price, who is president of Carol’s Daughter. "L’Oreal has a proven track record of helping established companies achieve their full potential while staying true to the core of the brand and they have an understanding of the future of multi-cultural beauty. I could not be more proud to begin this next chapter of the Carol’s Daughter brand with them."