Deals
Coty to Buy Hypermarcas Beauty Business for About $1 Billion
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Coty Inc. agreed to buy the personal-care and beauty division of Brazil’s Hypermarcas SA for about $1 billion in cash, turning again to acquisitions to expand its burgeoning cosmetics line.
The New York-based company will use a combination of debt and cash on hand to pay for the transaction, according to a statement on Monday. The Hypermarcas beauty business generated $253.5 million in revenue last year with brands such as Risqué nail polish and Paixão skin-care products.