Beauty giant completes its 60% stake acquisition of the peer-to-peer social selling platform
Coty has completed its acquisition of a majority share in Younique, three weeks after it announced the deal had been struck.
The acquisition is expected to be immediately accretive to Coty’s top-line growth, EBITDA margin and full-year 2017 earnings, adding more value than the $600m cost.
As part of Coty’s Consumer Beauty division, Younique will continue to be led by CEO Derek Maxfield and Chief Visionary Officer Melanie Huscroft.
Coty has purchased a 60% stake in the company, while Younique’s founders continue to own the remaining 40% of the business.
Upon completion of the deal, Camillo Pane, Coty’s CEO, said: “We are pleased to complete this transaction and partner with Younique to build a leading global e-commerce beauty company.
“We welcome Younique’s employees, presenters and customers to the Coty family.”