Coty Inc. to Acquire OPI Products Inc.

    
    Coty Adds OPI Nail Lacquers and Nicole by OPI to Its Growing Color
    Portfolio




    
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<p>NEW YORK, <span class="xn-chron">Nov. 29, 2010</span> /CNW/ -- Coty Inc., a leading global beauty company, and OPI Products Inc., a leader in professional nail salon products, today announced that Coty has entered into an agreement to acquire OPI.</p>
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<p>The acquisition will enhance Coty's color cosmetic portfolio, through the addition of over 200 fashion forward colors of OPI Nail Lacquer's chip-resistant formula, which has been an international success.</p>
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<p>"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," said Bernd Beetz, CEO, 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."</p>
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<p>"We are very excited about having OPI join the Coty family. OPI has gained a place in consumer's minds in the US and internationally," said Renato Semerari, President, Coty Beauty. "It is one of THE fashion brands in Nail Color for salons and that is a very unique position to be in. OPI's success is the result of a very focused and high quality effort by the OPI team over the past decades. We are very excited to join forces with such a talented team to strengthen OPI even further in the future."</p>
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<p>"It's time for a new era at OPI, and together with Coty we can begin this new journey," said <span class="xn-person">George Schaeffer</span>, President and CEO of OPI Products Inc. "For almost 30 years, we have built a solid foundation of innovation and excellence. We are confident that by joining Coty, this legacy will continue and be strengthened. We are all excited about the next phase of opportunity for OPI.  Our management team will continue on with the company and OPI's business strategy will remain focused on the salon professional."</p>
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<p>"OPI has a reputation for creating fashion-forward products that make women feel beautiful and Coty is a well-established trend setter in the beauty industry," said Suzi Weiss-Fischmann, the Executive VP & Artistic Director of OPI Products, Inc. "Together we will continue to push the envelope in beauty, color and trends."</p>
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<p>Financial terms of the transaction were not disclosed. The transaction is also subject to customary regulatory approvals.</p>
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<p>Moelis & Company served as financial advisor to Coty in connection with the transaction. Lazard Freres & Co. LLC acted as financial advisor to OPI. Gibson, Dunn & Crutcher LLP served as legal advisor to Coty in the transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to OPI.</p>
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    About Coty Inc.
    
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<p>Coty was created in <span class="xn-location">Paris</span> in 1904 by Francois Coty who is credited with founding the modern fragrance industry.</p>
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<p>Today, Coty Inc. is a recognized leader in global beauty with annual net sales of nearly <span class="xn-money">$4 billion</span>. Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty Inc. has developed an unrivaled portfolio of notable brands and delivers its innovative products to consumers in 90 markets worldwide.</p>
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<p>The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Balenciaga, Bottega Veneta, <span class="xn-person">Calvin Klein</span>, Cerruti, Chloe, Chopard, Davidoff, <span class="xn-person">Jennifer Lopez</span>, Jil Sander, JOOP!, Karl Lagerfeld, <span class="xn-person">Kenneth Cole</span>, L.A.M.B. fragrance by <span class="xn-person">Gwen Stefani</span>, La Voce by <span class="xn-person">Renee Fleming</span> , Lancaster, <span class="xn-person">Marc Jacobs</span>, Nikos, <span class="xn-person">Sarah Jessica Parker</span>, <span class="xn-person">Vera Wang</span>, <span class="xn-person">Vivienne Westwood</span> and Wolfgang Joop.</p>
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<p>The Coty Beauty brand portfolio is more widely distributed and includes adidas, ASTOR, Baby Phat, Beyonce Knowles, <span class="xn-person">Celine Dion</span>, Chupa Chups, David and <span class="xn-person">Victoria Beckham</span>, Esprit, Exclamation, <span class="xn-person">Faith Hill</span>, GUESS, Halle Berry, Jovan, <span class="xn-person">Kate Moss</span>, <span class="xn-person">Kylie Minogue</span>, La Cross, Lady Gaga, <span class="xn-person">Miss Sporty</span>, Nautica, N.Y.C. New York Color, <span class="xn-person">Pierre Cardin</span>(1), Playboy, Rimmel, <span class="xn-person">Sally Hansen</span>, Stetson, Tim McGraw, and Tonino Lamborghini.</p>
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<p>Coty and Puig Fashion and Beauty S.A. have a strategic partnership for the distribution of the perfume lines of <span class="xn-person">Nina Ricci</span>, <span class="xn-person">Carolina Herrera</span>, Prada, Paco Rabanne, and <span class="xn-person">Antonio Banderas</span> in the <span class="xn-location">United States</span> and <span class="xn-location">Canada</span>.</p>
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    For additional information about Coty Inc., please visit www.coty.com.

    (1) Not available in North America

    About OPI Products Inc.
    
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<p>OPI Products Inc., one of the world's leaders in professional nail care since 1981, has revolutionized the beauty industry by combining leading-edge innovation with trendsetting, fashion-forward colors. Under the leadership of OPI President & CEO <span class="xn-person">George Schaeffer</span> and Executive VP & Artistic Director Suzi Weiss-Fischmann, beautifully manicured nails are now seen as the essential fashion accessory.</p>
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<p>Preferred by salon professionals and favored by red-carpet celebrities, OPI Nail Lacquer is currently available in 200+ shades. OPI Nail Lacquers contain no DBP, Toluene, or Formaldehyde, and feature a patented Lacquer bottle, ergonomic cap, and ProWide® Brush designed for flawless application.</p>
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<p>In addition to Nail Lacquer, OPI also offers an entire range of state-of-the-art quality products for hands, feet, and nails - with more than 30 Patents for the company's innovative product ideas.</p>
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<p>OPI has had a number of successful partnerships, including CW Network, DELL, DreamWorks Animation SKG, Inc., <span class="xn-person">Justin Bieber</span>, <span class="xn-person">Katy Perry</span>, <span class="xn-person">Kristi Yamaguchi</span>, <span class="xn-person">Serena Williams</span>, Sony Pictures Screen Gems, Susan G. Komen for the Cure®, Walt Disney Pictures, and <span class="xn-person">Warner Home</span> Video.</p>
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    For more information, call 800.341.9999 or visit www.opi.com.




    

For further information: Lindsay Wooten (Fleishman-Hillard) for Coty Inc., [phone], [email protected]; or Harris Shepard (Harris Shepard Public Relations, Inc.), OPI Products Inc., [phone], [email protected] Web Site: http://www.coty.com http://www.opi.com