×
2 513
Fashion Jobs
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
JOHN LEWIS
Section Manager Customer Delivery Speke Cdh
Permanent · SPEKE
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Buying Admin Assistant
Permanent · MANCHESTER
BOOHOO GROUP
Warehouse Operative - pm Shift
Permanent · WELLINGBOROUGH
BOOHOO GROUP
Product Insights Manager
Permanent · MANCHESTER
BOOHOO GROUP
Technical Delivery Manager
Permanent · MANCHESTER
BOOHOO GROUP
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Senior CRM Automation Executive
Permanent · MANCHESTER
BOOHOO GROUP
Senior Project Manager
Permanent · MANCHESTER
BOOHOO GROUP
Warehouse Team Manager - Twilight Shift
Permanent · WELLINGBOROUGH
ESTEE LAUDER
Clinique - Consultant - Boots Oracle, Reading - 11 Hours, 2 Days (Sat. Sun.) - Part Time, Permanent
Permanent · Reading
ESTEE LAUDER
Clinique - Consultant - Harrods, London - 37.5 Hours, 5 Days - Full Time, Permanent
Permanent · London
Ads
By
Reuters
Published
Jun 16, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coty purchase of P&G assets may take two weeks to finalise

By
Reuters
Published
Jun 16, 2015

U.S. cosmetics group Coty has won auctions to acquire three businesses from Procter & Gamble Co for as much as $12 billion, but details of the company's acquisition could take at least two weeks to be finalised, sources close to the matter said on Tuesday.

Reuters reported last week that Henkel & Co and Coty, both of which have personal care and cosmetics businesses, made binding offers to buy separate parts of P&G's beauty businesses.

Nailpolish by Sally Hansen, a Coty brand


And on the weekend, Coty won the weekend valuing the businesses at close to $12 billion, the sources said. If it goes through, it would be the biggest deal in cosmetics in at least a decade and would turn Coty into a world leader in perfume and hair care.

P&G, the world's largest household products maker, has been looking to sell several assets it considers non-core as part of its cost-cutting strategy.

Coty, which has a market value of $9.39 billion and makes perfume for fashion brands Calvin Klein and Marc Jacobs and owns nail polish brand OPI and Rimmel mascara, has been looking to expand its products portfolio.

For tax purposes, the transaction is to be completed through a "Reverse Morris Trust," which means that P&G would spin off its beauty assets into a separate company that would then absorb Coty in an all-share deal, the sources said.
In turn, the newly combined company would then redistribute shares to P&G shareholders.

Hair products from Wella, a P&G brand - Wella


Luxembourg-based JAB Holdings, the billionaire Reimann family's investment company which controls 75 percent of Coty, would own about a third of the equity in the newly combined business and about 47-48 percent of the voting rights, the sources said.

P&G and Coty could not be immediately reached for comment.

With the acquisition of the Gucci, Hugo Boss and Dolce & Gabbana perfume licences, Coty would become the world's No.1 perfume maker ahead of L'Oreal, according to consultancy Euromonitor.

The transaction would mark Coty's entry into the hair care market, dominated by the Wella and Clairol brands it will buy from P&G. With make-up brands Cover Girl and Max Factor, Coty would become the second biggest make-up company behind L'Oreal, up from its previous ranking of No. 5.

© Thomson Reuters 2022 All rights reserved.