The American cosmetic giant sells a part of his participations in Wella by 150 million dollars. As it signalled the company the past Tuesday, Coty, that had 25% of Wella, after the sale at the end of investment IGF Wealth Management, will explain now with 22,3% of the participations of the company capilar priced in roughly 900 million dollars.
Numerous media related with the sector of the beauty and the cosmetic have done echo of the news. This operation that expects that it do totally effective in the next two months.
Laurent Mercier, financial director of Coty, has valued this movement as very positive for Coty: "this announcement is a milestone for Coty, since the monetización partial of our participation in Wella reinforces the fortress of our balance, without vencimientos of debt in the next two years", has explained the pertaining director to Coty. On the other hand, it has signalled that this sale answers to the commitment of the American company of desinvertir the participation in Wella with the aim to attain a margin of profit of roughly twice more for the end of the exercise of 2023. Mercier Argued that all this will serve to reinforce the position of Coty like power of the beauty.
In 2021, Coty arrived to a definite agreement to sell a participation of roughly 9% of the Wella to KKR by more than 426 million dollars, reducing his participation in the company to 40% then. In the operation included marks like OPI and Clairol.
The American group of cosmetic and beauty registered a turnover of 5300 million dollars the past economic exercise, what meant an increase of 15% with regard to the previous year. Coty Aimed a net profit of 55 million dollars tracing back the pérdidade the 166,3 million dollars of the previous year. It does so alone two weeks Coty made public that it had improved again his forecasts when recovering the normality prepandemia in the Asian market. In the communiqué explained that this increase of sales in all his categories and markets has done to increase his forecasts between 10% and 11% to closing of year. In the month of May, these estimates were two points underneath. Coty Foresees that the turnover grow of remarkable way in his line Prestige, in marks like Roberto Cavalli and Chloé.