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Beauty Giants To Take Majority Stake in Hair-Care Business

By  |  May 11, 2020

Beauty giant COty announced it is in exclusive talks with private-equity firm KKR on a US$3 billion deal to carve out Coty’s professional-beauty and hair-care businesses, which include Wella, Clairol, OPI, and Good Hair Day brands.

KKR would get two board seats out of the transaction, Coty stated. Coty, in October 2019, announced it was looking to sell that collection of brands, which account for nearly one-third of its annual revenue. It bought some of the brands in 2016 when Coty acquired much of Procter & Gamble’s beauty business. Coty stated on Monday, May 11, its mass-beauty business in Brazil will remain with the company.

Full Content: Wall Street Journal

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