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Friday, January 10, 2014

TPG fund in advanced talks to purchase E.l.f Cosmetics -sources, (NYSE: TGT)

Beauty brand E.l.f cosmetics is in late-stage talks to be acquired by TPG Growth, the middle-market investment arm of private equity firm TPG Capital LP, according to three people familiar with the matter. E.l.f, which stands for eyes, lips and face, could fetch $200 million to $300 million in a sale, two of the people said on Friday, asking not to be named because the matter is not public.The brand had hired investment bank Financo to advise on a sale. Private equity firm TSG Consumer Partners holds a minority stake in the brand.E.l.f, TSG and TPG declined to comment.E.l.f. sells affordable cosmetics at retailers like Target Corp. The brand's lipstick and mascara cost around $3 each.

Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT fell by 1.14% or $-0.72/share to $62.62. In the past year, the shares have traded as low as $59.72 and as high as $73.50. On average, 5291300 shares of TGT exchange hands on a given day and today's volume is recorded at 12949700.