Coty Inc., a New York, NY-based beauty company with portfolios in fragrance, color cosmetics and skin care, received a minority equity investment of undisclosed amount from private equity firms Berkshire Partners LLC, and Rhône.
In conjunction with the investment, the two the investors will be represented on the company’s board of directors.
As stated by Bernd Beetz, CEO of Coty, this agreement allows the company to continue its accelerated growth path organically and externally around the globe. “By bringing these partners on board, Coty will be in a stronger position to prepare for future and larger acquisitions while maintaining the culture that makes Coty such a unique place in the beauty industry”, he said.
Created in Paris in 1904 by Francois Coty, today company has developed a portfolio of notable brands and delivers its products to consumers in 90 markets worldwide.
In late 2010, Coty made several acquisitions including:
– OPI, a preeminent provider of nail care products;
– philosophy, Inc., a premier skin care and cosmetics company;
– TJoy, a Chinese skin care company;
– Dr. Scheller Cosmetics AG, manufacturer of some of Germany’s most popular makeup and skin care brands.