New York CityÂs Coty is one of the world’s largest beauty companies with sales of $2 billion in 2004.London”s Unilever (NYSE: UN) Friday agreed to sell its global prestige fragrance business to New York City”s Coty for $800 million. Unilever could also receive up to $100 million based on future sales.
The perfumes business includes licenses for Calvin Klein, Cerruti, Vera Wang, Chloe and Lagerfeld. In addition to acquiring the perfume licenses, Coty will also acquire a manufacturing and distribution center in Mt. Olive and a distribution center in Lille, France.
The new fragrances will become part of Coty”s Lancaster Group Worldwide.
Coty is one of the world”s largest beauty companies with sales of $2 billion in 2004. The company expects to complete the purchase of the Unilever business within the coming months.