17 hours ago
Coty to buy Bourjois from Chanel
December 19th 2014
The beauty brand powerhouse expands its portfolio with latest acquisition
“In a move to strengthen its foothold in masstige colour cosmetics, Coty Inc., which went public in June 2013, agreed to acquire Bourjois Paris from Chanel for 15 million shares, worth $238 million.
“’The anticipated addition of Bourjois not only strengthens our global colour position; it materially increases our critical mass in France, Bourjois’ main market,’ said Coty chairman and interim chief executive officer Bart Becht. ‘We are equally looking forward to having Chanel, a powerhouse in fashion and cosmetics, as a key shareholder in our company.’”
Read more at WWD.