Lisa Price today announced that Carol's Daughter, the beauty brand she created in her Brooklyn kitchen in 1993, will be acquired by L'oreal USA.

In a video posted to the brand's Facebook page she says: I want to thank all of you for the support and the love and for being beside me, and I want you to hold my hand as we walk into this next chapter of the Carol's Daughter life…It brings me pride and joy to be able to join a family like L'oreal because I know I'll be with the right shepherd…a company that will help to take what I've built and solidify it in it's place in history and beauty, and I don't have to wonder, if 20 years from now–30 years from now, will there still be a Carol's Daughter brand. I know that there will be because I'm joining a team that builds brands and builds them to last. I'm not going anywhere. This isn't the end of Carol's Daughter. It's a new beginning, so I couldn't have asked for a more perfect home for my first child–my business.