US. Coty has confirmed the completion of its previously announced purchase of Unilever Cosmetics International (UCI), the global prestige fragrance business of Unilever (The Moodie Report.com, 21 May).
The closing of the transaction in Austria is expected shortly upon receipt of all necessary regulatory approvals.
Coty Chief Executive Officer Bernd Beetz commented: “The purchase of these prestige fragrances strengthens Coty’s leadership position in the global marketplace. It is an excellent strategic move for Coty and one that is fully in line with our strategy.
“Coty is now the world’s largest fragrance company and we are in a strong position to achieve our long-term goal of being among the top five beauty companies in the world.”
Michele Scannavini, President, Lancaster Group Worldwide added: “The addition of these brands is a strong complement to Lancaster Group’s prestige portfolio of celebrity, designer and lifestyle fragrances. We are truly excited about this acquisition and we are looking forward to developing these brands, which give us a new platform to further build our prestige business around the world.”
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