Coty brushes up nail care portfolio with OPI acquisition
NEW YORK — It's official. Coty, whose brands include Sally Hansen nail care products, has announced plans to acquire OPI Products, a maker of professional nail salon products.
Terms of the deal were not disclosed. The acquisition will bolster Coty's color cosmetic portfolio by adding more than 200 shades of OPI Nail Lacquer's chip-resistant formula.
"We view the acquisition of OPI as complementary to Coty and a natural extension of our strategy to offer a unique portfolio of brands that produce some of the best known consumer products around the world," stated Bernd Beetz, CEO of Coty Inc. "OPI is both dynamic and high quality and has earned its place as a leading provider to professional nail care salons. This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers."