Coty to acquire hair tools maker GHD for $511 million

10/18/2016

NEW YORK -- Coty has reached a definitive agreement to acquire GHD, a premium brand in high-end hairstyling appliances, from Lion Capital LLP for approximately $510 million.


The deal marks Coty’s first acquisition since it completed the purchase this month of 41 Procter & Gamble Co. beauty brands, including Gucci fragrances, CoverGirl cosmetics and Max Factor makeup. 


Camillo Pane, Coty CEO, said of the deal: “We are pleased to bring ghd’s highly skilled management team and its employees into Coty as we continue to strengthen our core business through the addition of innovative market-leading brands and products.  ghd has beautifully designed and superior performing products, and is the preferred choice for discerning professionals and consumers alike.  Not only do we expect ghd to strengthen our professional hair portfolio and enable Coty to provide even better hair solutions, but we also believe there is strong growth potential for ghd across several markets.”


Coty says the addition of GHD's lines of hair straighteners, hairdryers, curlers and other hairstyling appliances is expected to further strengthen Coty’s worldwide leading position in the professional hair category.  GHD products represent the top of the range in its category, attracting strong loyalty with both professionals and consumers.  


Coty says it also aims to accelerate GHD's strong track record of growth through its channel and category capabilities combined with ghd’s strong innovation pipeline, superior technology and robust technical expertise.


GHD is headquartered in London and has commercial operations in the United Kingdom, Australia, the United States, Germany, France, Spain, Italy and several other markets.  The company has been expanding from its core salon channel into premium retail and e-commerce.  GHD will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team.  Anthony Davey will report to Sylvie Moreau, president of Coty Professional Beauty.


 


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