Coty to buy Bourjois from Chanel

December 19th 2014 / Ayesha Muttucumaru Google+ Ayesha Muttucumaru

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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.

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