On the back of its deal to acquire 43 P&G beauty brands, Coty's shopping spree is continuing – with the company revealing it has reached a definitive agreement to acquire ghd for approximately $AU668 million.
The deal will see Coty boost its Professional Beauty division – which already includes hair care and colour brands such as Wella Professionals, System Professional, Sebastian Professional and Clairol Professional. Coty's salon hair activity ranks second worldwide, with the acquisition hoped to further strengthen its position in the professional hair category.
ghd will continue to be led by its current chief executive officer Anthony Davey and management team, with Davey reporting into Coty Professional Beauty president Sylvie Moreau.
Coty is currently the third biggest beauty player in the world, having jumped up nine spots following the P&G purchase.
Image: Instagram.com/ghdhair
