Coty Inc. has signed a Memorandum of Understanding (MOU) with KKR, a global investment company for the sale of a majority in Coty’s Professional Beauty and Retail Hair business, which will include Wella Professionals, Clairol, OPI, and ghd brands (together ‘Wella’). Following the terms of the MOU, Coty will carve out ‘Wella’ and its portfolio of professional brands into a standalone company in which KKR will acquire a 60% stake and Coty will retain the remaining 40% interest. “This announcement represents a great milestone for our Wella India organisation. We are confident this partnership will bring new opportunities. In the meantime, we remain fully committed to supporting our customers and our industry as it bounces back from the COVID-19 crisis,” said Manish Bhagat, Country Manager, Coty India.
