Transaction Further Strengthens Coty’s Worldwide Leading Position in Professional Hair
NEW YORK (BUSINESS WIRE)Oct. 17, 2016
Coty Inc.(NYSE: COTY) announced today that it has reached a definitive agreement to acquire ghd (www.ghdhair.com), a premium brand in highend hairstyling appliances from Lion Capital LLP for approximately ₤420 million (ca.USD$510 million) in cash. The transaction will be funded with a combination of cash on hand and available debt facilities. Upon closing, the acquisition is expected to be immediately
accretive to Coty’s earnings.
ghd, which stands for “Good Hair Day,” generated ₤178 million in
revenues in fiscal year 2016. ghd is headquartered in London and has commercial operations in the United Kingdom,
Australia, the United States, Germany, France, Spain, Italyand several other markets.
The company has been expanding from its core salon channel into premium retail and ecommerce. ghd 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. Anthony Davey will report to Sylvie Moreau, President of
Coty Professional Beauty.