Less than two weeks after the completion of the P&G Specialty Beauty merger, Coty is considering yet another acquisition, according to a report published by Sky News.
The US beauty giant is said to be in talks to acquire British hair straightener brand GHD for an estimated £400 million. The deal is expected to be announced this month.
Thanks to the weakness of the pound following the Brexit vote, the purchase price would be just US$487 million at today’s exchange rates.
GHD owner Lion Capital put the brand up for sale earlier this year, drafting in Rothschild to handle the auction process. Both CVC Capital Partners and Panasonic are also said to have entered bids.