Coty Inc. to Acquire OPI Products Inc.By Coty Inc., PRNE
Sunday, November 28, 2010
Coty Adds OPI Nail Lacquers and Nicole by OPI to Its Growing Color Portfolio
NEW YORK, November 29, 2010 - Coty Inc., a leading global beauty company, and OPI Products Inc., a
leader in professional nail salon products, today announced that Coty has
entered into an agreement to acquire OPI.
The acquisition will enhance Coty's color cosmetic portfolio, through the
addition of over 200 fashion forward colors of OPI Nail Lacquer's
chip-resistant formula, which has been an international success.
"We view the acquisition of OPI as complementary to Coty and a natural
extension of our strategy to offer a unique portfolio of brands that produce
some of the best known consumer products around the world," said Bernd Beetz,
CEO, Coty Inc. "OPI is both dynamic and high quality and has earned its place
as a leading provider to professional nail care salons. This acquisition will
allow Coty to expand our presence in the nail care category via an important
new channel of distribution: professional salons, and importantly will offer
an even greater selection of products and choice to consumers."
"We are very excited about having OPI join the Coty family. OPI has
gained a place in consumer's minds in the US and internationally," said
Renato Semerari, President, Coty Beauty. "It is one of THE fashion brands in
Nail Color for salons and that is a very unique position to be in. OPI's
success is the result of a very focused and high quality effort by the OPI
team over the past decades. We are very excited to join forces with such a
talented team to strengthen OPI even further in the future."
"It's time for a new era at OPI, and together with Coty we can begin this
new journey," said George Schaeffer, President and CEO of OPI Products Inc.
"For almost 30 years, we have built a solid foundation of innovation and
excellence. We are confident that by joining Coty, this legacy will continue
and be strengthened. We are all excited about the next phase of opportunity
for OPI. Our management team will continue on with the company and OPI's
business strategy will remain focused on the salon professional."
"OPI has a reputation for creating fashion-forward products that make
women feel beautiful and Coty is a well-established trend setter in the
beauty industry," said Suzi Weiss-Fischmann, the Executive VP & Artistic
Director of OPI Products, Inc. "Together we will continue to push the
envelope in beauty, color and trends."
Financial terms of the transaction were not disclosed. The transaction is
also subject to customary regulatory approvals.
Moelis & Company served as financial advisor to Coty in connection with
the transaction. Lazard Freres & Co. LLC acted as financial advisor to OPI.
Gibson, Dunn & Crutcher LLP served as legal advisor to Coty in the
transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor
About Coty Inc.
Coty was created in Paris in 1904 by Francois Coty who is credited with
founding the modern fragrance industry.
Today, Coty Inc. is a recognized leader in global beauty with annual net
sales of nearly $4 billion. Driven by an entrepreneurial spirit, passion,
innovation and creativity, Coty Inc. has developed an unrivaled portfolio of
notable brands and delivers its innovative products to consumers in 90
The Coty Prestige brand portfolio is distributed in prestige and
ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein,
Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jil Sander, JOOP!, Karl
Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, La Voce by Renee
Fleming , Lancaster, Marc Jacobs, Nikos, Sarah Jessica Parker, Vera Wang,
Vivienne Westwood and Wolfgang Joop.
The Coty Beauty brand portfolio is more widely distributed and includes
adidas, ASTOR, Baby Phat, Beyonce Knowles, Celine Dion, Chupa Chups, David
and Victoria Beckham, Esprit, Exclamation, Faith Hill, GUESS, Halle Berry,
Jovan, Kate Moss, Kylie Minogue, La Cross, Lady Gaga, Miss Sporty, Nautica,
N.Y.C. New York Color, Pierre Cardin(1), Playboy, Rimmel, Sally Hansen,
Stetson, Tim McGraw, and Tonino Lamborghini.
Coty and Puig Fashion and Beauty S.A. have a strategic partnership for
the distribution of the perfume lines of Nina Ricci, Carolina Herrera, Prada,
Paco Rabanne, and Antonio Banderas in the United States and Canada.
For additional information about Coty Inc., please visit
(1) Not available in North America
About OPI Products Inc.
OPI Products Inc., one of the world's leaders in professional nail care
since 1981, has revolutionized the beauty industry by combining leading-edge
innovation with trendsetting, fashion-forward colors. Under the leadership of
OPI President & CEO George Schaeffer and Executive VP & Artistic Director
Suzi Weiss-Fischmann, beautifully manicured nails are now seen as the
essential fashion accessory.
Preferred by salon professionals and favored by red-carpet celebrities,
OPI Nail Lacquer is currently available in 200+ shades. OPI Nail Lacquers
contain no DBP, Toluene, or Formaldehyde, and feature a patented Lacquer
bottle, ergonomic cap, and ProWide(R) Brush designed for flawless
In addition to Nail Lacquer, OPI also offers an entire range of
state-of-the-art quality products for hands, feet, and nails - with more than
30 Patents for the company's innovative product ideas.
OPI has had a number of successful partnerships, including CW Network,
DELL, DreamWorks Animation SKG, Inc., Justin Bieber, Katy Perry, Kristi
Yamaguchi, Serena Williams, Sony Pictures Screen Gems, Susan G. Komen for the
Cure(R), Walt Disney Pictures, and Warner Home Video.
For more information, call 800-341-9999 or visit www.opi.com.
Lindsay Wooten (Fleishman-Hillard) for Coty Inc., +1-202-828-8829, lindsay.wooten at fleishman.com; or Harris Shepard (Harris Shepard Public Relations, Inc.), OPI Products Inc., +1-310-277-0437, HShepard at HarrisShepard.com
Tags: Coty Inc., Europe, India, Middle East, New York, November 29