Consumer goods firms Henkel and Unilever, along with such buyout funds as Advent and Cinven, are contemplating bidding for some of U.S. cosmetics maker Coty”™s most popular beauty brands, according to a Reuters report.
Coty”™s portfolio includes such brands as Clairol, Max Factor, CoverGirl, Wella, GHD and OPI. The New York City firm, which has a market value of $9 billion, is majority-owned by the German firm JAB Holding Co. Citing anonymous sources, Reuters reported that Coty is expected to kick off an auction process in December to find a new owner for certain of its professional hair and nail care brands.
Henkel ”“ also a German company, whose North American headquarters are in Stamford ”“ has steadily been building its portfolio over the past few years, with acquisitions ranging from the $485 million purchase of Darien-based Zotos International Inc. in 2016 to its pick-up of Deva Parent Holdings Inc., the New York City company that owns DevaCurl professional hair care, for an undisclosed amount earlier this month.
The British-Dutch Unilever, which has a corporate office in Shelton, announced three days ago that it had accepted an offer from Guatemala”™s Industria La Popular to acquire its direct application soap bars business in Central America. That news followed the Nov. 13 announcement that Marijn Dekkers was stepping down as Unilever”™s chairman of the board immediately and being replaced by non-executive director Nils Andersen.
Another possible suitor for the Coty portfolio is New York-based Colgate Palmolive, which recently bought the skin care unit of France”™s Laboratoires Filorga Cosmétiques for €1.5 billion ($1.66 billion).
