Henkel and KKR, final bidders for Coty’s assets. The company’s professional beauty division, which comprises Wella, Ghd or Clairol, could be sold for 8 billion dollars, as reported by WWD.
The sale caught the attention of different investors such as Carlyle, Bain, Advent or Cinven, but they have since dropped out of the process. Henkel was similarly interested in some of Coty’s lines, such as hair care brands.
The company will maintain the consumer sales division, with brands such as Max Factor and Cover Girl, and the luxury division, which includes Gucci Beauty or Calvin Klein. Coty acquired the business from P&G in 2015, in an agreement that included 43 beauty brands.
The company will maintain the consumer and luxury sales division
Coty received the approval of the sale by the majority shareholder JAB Holdings last October. This movement comes from the reduction of the workforce last year and the entry of a new CEO, Pierre Laubies.
The American cosmetic and perfumery giant concluded 2019 (closed on July 31) with a 6% drop in its net profit, up to 487.6 million dollars at the end of the year and sales of 8.6 billion dollars, an 8% decrease than in the previous year.