The acquisition of P&G's speciality beauty business earlier this year saw Coty become one of the major global players when it comes to beauty. Now, the beauty company is undertaking another bold acquisition move that will see it further cement this position.
Coty has today announced plans to purchase Brazilian beauty and personal care brand holder Hypermarcas for approximately $US1 billion. Hypermarcas is one of the top beauty companies in Brazil - the third biggest beauty market in the world - and has a strong presence in colour cosmetics, hair care, body care, deodorant, and men's grooming.
"We expect that the strength of the brands, the impressive leadership team and its robust infrastructure will enhance Coty's competitive position and very much complement our contemplated merger with the P&G speciality beauty business," Coty interim CEO Bart Brecht tells CosmeticsDesign.
"Today's announcement is another step in our progression towards creating a pure-play global leader and challenger in beauty."
Subject to any regulatory complications, the deal is expected to close by the end of March next year. The P&G brands are likely to be integrated into the Coty business in the second half of 2016.
