L’Oreal to acquire haircare brand Color Wow

French cosmetics giant L’Oreal said on Monday it had signed an agreement to acquire haircare brand Color Wow, as it seeks to tap rapid growth in premium hair products.

Haircare was the second fastest-growing category at L’Oreal last year after fragrances, driven by new launches for specific hair types and conditions.

The company said earlier this year was targeting more innovation and growth in premium hair products, which it sells both online and in salons.

Color Wow, based in the U.S. and Britain, makes products for frizz control and curly hair.

Terms of the deal were not disclosed.