EU gives Coty green light for Procter & Gamble beauty business acquisition

EU gives Coty green light for Procter & Gamble beauty business acquisition

The European Commission has concluded that there will still be sufficient competition in the market should Coty go ahead with its proposed acquisition of P&G’s beauty product businesses, giving the deal the go ahead.

Coty is set to acquire the beauty businesses from P&G for a sum of $12.5billion, which include its perfume, hair care and make-up businesses.

Speaking in a statement, the EC said, “The Commission concluded that strong independent players would remain active in all the concerned markets.” Indeed, these choices come from the likes of other market big-hitters such as Avon, L’Oreal and LVMH.

The deal, which will see Coty run the licences for the likes of Gucci and Hugo Boss, making it the number one perfume maker and number three make up provider ahead of Estee Lauder,

 

 

 

Leave a reply

Your email address will not be published. Required fields are marked *