Coty Inc. has signed a definitive agreement to acquire 43 beauty brands from Procter & Gamble, the two companies announced this morning.
The deal will turn Coty into one of the world’s largest beauty empires virtually overnight, with pro forma combined annual revenues exceeding $10 billion based on fiscal year 2014 performance, the company noted in an official statement.
Included in the purchase are the leading fragrance brands Hugo Boss, Dolce & Gabbana and Gucci, and the colour cosmetics brands CoverGirl and Max Factor. The transaction will also make Coty a player in the hair category, at both the salon professional and retail levels, through lines such as Wella and Clairol.
The P&G beauty brands to be merged with Coty are:
Wella Professionals (and sub-brands)
SP (System Professional)
Nice & Easy
VS ProSeries Color
Dolce & Gabbana
James Bond 007