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Coty to acquire OPI distributor Lena White
January 6th, 2014
NEW YORK – Coty Inc. plans to buy Lena White Ltd., the largest international distributor of OPI, one of Coty's power brands.
Terms of the agreement weren't disclosed. Coty said Monday that for the past 30 years, Lena White Ltd. has served as OPI's distributor in the United Kingdom for the professional and retail beauty channels.
Coty noted that the Lena White purchase will enable it to directly lead the development of the OPI brand in the United Kingdom, its second-largest market, providing the resources to expedite development in both retail and professional channels, where Coty will continue to leverage Lena White's strong management expertise.
"This acquisition is an important step in strengthening OPI's position in Europe," stated Michele Scannavini, chief executive officer of Coty. "The OPI strategy remains focused on the salon professional and prestige channels, and we expect to accelerate its growth in the international markets by leveraging our investments in both areas. We welcome the Lena White team to the Coty family, and we look forward to integrating their unique expertise in our UK business."
"We are all excited about the next phase of opportunity for Lena White Ltd. and OPI," commented Lena White. "Our management team will continue in this new structure, and we look forward to embracing the 'Faster. Further. Freer.' culture of Coty."