Too Faced Cosmetics LLC in Irvine “is exploring a sale that could value it at several hundred millions of dollars,” according to Reuters.

Creative Director Jerrod Blandino and Chief Executive Jeremy Johnson cofounded the cosmetics company in 1998.

The private equity firm Weston Presidio in San Francisco also owns a stake in the “global, multimillion dollar” brand sold at retailers that include Sephora USA Inc. and Ulta Salon Cosmetics.

It has annual EBITDA of about $25 million, according to Reuters’ sources, and a deal is expected sometime early next year.