It’s official! Wella has been acquired by Coty.
After several weeks of speculation, Procter & Gamble announced this morning the official sale of 43 of its beauty brands to Coty Inc. Among others, the transaction includes P&G’s Salon Professional business, including Wella.
This agreement will enhance Coty’s beauty portfolio and expand its offering in the salon professional market, where it has already built a nail care category presence through the acquisition of OPI in 2010.
“As two iconic houses strongly anchored in their beauty heritage, Coty and Wella are a perfect fit. We are both driven by a passion for beauty, creative freedom and the entrepreneurial spirit that was embodied by our founders. We are honoured to join the Coty family and are excited about the possibilities this represents for Wella’s mission of elevating hairdressers and the hairdressing industry,” said Sylvie Moreau, global executive vice-president of Wella.
Until deal closing, expected in the second half of 2016, Wella will continue to operate as the Salon Professional unit of Procter & Gamble.