US private equity giant KKR considering 8 billion dollars bid for Coty’s hair brands | Progresiv
KKR, the US private equity firm, is said to be working on a bid for the takeover of Coty’s Professional Beauty brands. 
The company is arranging a 8 billion dollars offer with the help of JPMorgan Chase, according to Sky News.
The division includes hair care brands Clairol, Wella, ghd and Nioxin, Sassoon Professional, Professional Sebastian, System Professional, Kadus Professional and Londa Professional as well as nail care brand OPI.
It is not the first time KKR has reportedly shown interest in buying the brand portfolio; in 2015 Reuters reported that KKR put forward a bid for the business when it was on the block at P&G.
Coty plans to sell its Professional Beauty business this year, a decision that has the support of majority shareholder JAB Holdings.
Announcing the plan in October 2019, the conglomerate’s management team and Board reached the conclusion that the future growth opportunities of the business “lie increasingly outside the company’s core strategic focus”.
Coty acquired the business from P&G in 2015, as part of a landmark deal that saw 43 beauty brands exchanged.
In November 2019, KKR formally approached Walgreens Boots Alliance with a buyout proposal, however, no offers have been accepted. (www.cosmeticsbusiness.com)
