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Coty Agrees to Buy Philosophy Skincare From Carlyle

Coty Inc., the perfume maker owned by Joh A. Benckiser SE, will acquire beauty company Philosophy from private equity firm Carlyle Group as it seeks to build its luxury skincare business outside of Europe.

Philosophy will probably generate sales of more than $200 million this year, New York-based Coty said today in a statement. The sale price wasn’t disclosed. Carlyle, based in Washington, had sought $1 billion for the skincare maker, according to people familiar with the situation who declined to be identified because the negotiations were private.