Private equity investments boost Coty’s coffers
Coty Inc has announced it has received two minority investments from the private equity firms Berkshire Partners and Rhône. Under the terms of the investment both companies will be represented on Coty’s board of directors.
The investment comes following a year of fervent acquisition activity from the beauty giant. In 2010 it inked deals with OPI, philosophy, Dr Scheller Cosmetics and TJoy, a leading Chinese skin care company.
“This mutually beneficial agreement allows Coty to continue its accelerated growth path organically and externally around the globe,” commented Coty ceo, Bernd Beetz. “By bringing these partners on board, Coty will be in a stronger position to prepare for future and larger acquisitions while maintaining the culture that makes Coty such a unique place in the beauty industry.”