Coty acquires P&G beauty businesses

US-based beauty products and fragrance manufacturer Coty Inc has outbid other buyers to acquire three businesses from Procter & Gamble at about $12bn (£7.7bn, €10.7bn), according to media reports.

The company has won auctions to purchase P&G’s hair-care, fragrance and cosmetics businesses, expanding its product portfolio. P&G licenses the fragrances of several luxury brands including Gucci, Dolce & Gabbana, Hugo Boss, Escada. Other beauty brands include: Wella, Max Factor, Olay, Londa.

Coty is known for its Calvin Klein and Marc Jacobs fragrances, New York Color cosmetics and nail polish brand OPI and Rimmel mascara. The company, which has a market capitalisation of $9.39bn, has been looking to acquire more products in order to join the big firms in consumer care.

Colin Farrell for Dolce & Gabbana Intenso fragrance ad campaign