Awhile back Procter and Gamble was in the news when it announced that it would be streamlining its brand portfolio and offloading some of its brands. Pringles was sold to Kellogg’s, Zest and Camay were sold to Unilever, and a few more P&G brands are now headed for a new home too.
The New York Post reports that Cover Girl, Max Factor and Wella will be sold to Coty:
Coty, whose stable of products includes Calvin Klein and Marc Jacobs fragrances and New York Color cosmetics, has also won a third auction — for P&G’s hair-care lines, which includes its Wella brand — that will expand its business into that category, sources familiar with the deal believed. Coty for years has been acquiring brands waiting for the chance to join the big leagues in the consumer space. Winning the P&G auctions would catapult Coty into a much larger playing field. “It’s rare you have brands of this size coming to market,” said one banker who knows Coty well.
In addition to the brands mentioned above, Coty also makes Rimmel cosmetics.
I read a few stories about this acquisition today, and I learned something I didn’t previously know. Another article made reference to P&G’s portfolio of fragrance brands. Did you know Dolce & Gabbana, Gucci and Hugo Boss fragrances are made by P&G?
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