Coty Inc has announced that it has entered into an agreement to acquire DLI Holdings Corp and its subsidiaries. The parent company of Del Laboratories, DLI Holdings is a leading developer, manufacturer and marketer of cosmetics and over the counter pharmaceuticals.
The agreement will extend Coty Beauty’s fragrance, colour and skin care portfolio with the addition of the Sally Hansen, N.Y.C. New York Color and La Cross brands.
“Del’s well established, well regarded portfolio of quality products mesh well with our core offerings, and their strong presence in North America complements Coty Beauty and Coty’s international strength,” said Coty ceo Bernd Beetz. “We view the acquisition of DLI Holding Corp as a natural extension of our strategy to offer a unique portfolio of brands that produce some of the strongest consumer franchises around the world.”
The merger brings Coty closer to its goal of becoming a $5bn beauty company and is expected to close by 31 December 2007.