Coty Inc. acquires Bourjois from Chanel
U.S. beauty products giant Coty has completed its acquisition of the Bourjois cosmetics brand from luxury french group CHANEL for a consideration of approximately 15.43 million shares of Coty’s Class A Common Stock, which is estimated at a total value of $239 million.
Bourjois has a portfolio of color cosmetic products that are sold through approximately 23,000 points of sale in more than 50 countries around the world, with leading positions in some of the most attractive markets for color cosmetics, such as Western Europe, the Middle East and Asia. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.
Chanel could use the revenue from the sale to develop its e-commerce and in retail.