Deals
Coty Buys Majority of TJoy to Boost China Skin-Care
This article is for subscribers only.
Coty Inc., the seller of perfumes by Sarah Jessica Parker and Vera Wang, will acquire a majority stake in Chinese skin-care company TJoy Holdings Ltd. as it seeks to expand in the world’s most-populous nation.
The companies entered into a share-purchase agreement, according to a statement yesterday, which didn’t disclose the value of the deal. The Wall Street Journal on Dec. 3 reported Coty would announce a purchase of TJoy for about $400 million in cash and stock.