May 13, 2020
US beauty company Coty said it will hold on its subsidiary in Brazil after agreeing to sell a majority stake in its professional beauty and retail hair care businesses to investment firm KKR for $4.3 billion.
"Coty's mass beauty business in Brazil will remain a fully owned business of Coty," the New York-based company said in a press release to announce the deal with KKR on Monday.
As part of the sale, Coty said it will carve out the German hair care brand Wella as a standalone company and sell
US beauty company holds on to its South American subsidiary after offloading professional and retail lines for $4.3 bln