12.05.16
With its acquisition of 41 P&G brands now complete, Coty is still amassing further properties. Once known as the world’s largest fragrance company, the now broad-based beauty manufacturer/marketer has announced a definitive agreement to acquire ghd, a premium brand in high-end hairstyling appliances, from Lion Capital LLP for approximately $510 million in cash.
According to Coty, the addition of ghd’s market-leading and high-performance lines of hair straighteners, hairdryers and other hairstyling appliances is expected to further strengthen what the company says is its worldwide leading position in the professional hair category. ghd, which stands for “Good Hair Day,” has been expanding from its core salon channel into premium retail and e-commerce. It will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team.
According to Coty, the addition of ghd’s market-leading and high-performance lines of hair straighteners, hairdryers and other hairstyling appliances is expected to further strengthen what the company says is its worldwide leading position in the professional hair category. ghd, which stands for “Good Hair Day,” has been expanding from its core salon channel into premium retail and e-commerce. It will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team.
