OPI Products Said to Be in Talks for Sale, May Fetch $1 Billion

OPI Products Inc., the closely held nail-care company, is in advanced talks to sell itself to a beauty-care company or private-equity firm for as much as $1 billion, said four people with knowledge of the matter.

Closely held perfume maker Coty Inc. is the likeliest buyer, said the people, who asked not to be identified because the talks are private. Private-equity firms Bain Capital LLC and Advent International Corp. are also among those that made first-round bids, said the people. Second-round bids are due in the next two weeks, they said.