Coty gives update on merger with P&G Beauty Brands
NEW YORK — Coty says it expects its transaction with P&G’s Fragrance, Color Cosmetics and Hair Color Business to close in October and that it expects to incur $1.2 billion of one-off costs over the next four years related to closing the deal.
“We continue to make strong progress on the P&G transaction which we expect will make Coty a global leader and challenger in the Beauty Industry," said Bart Becht, chairman and interim CEO of Coty. "We now expect the transaction to close in October 2016. We’ve also substantially increased our estimates for cost synergies compared to when we announced the transaction, significantly improving the outlook for Coty’s adjusted operating margin and adjusted earnings per share, excluding amortization.”
On July 9, 2015, Coty announced that it had entered into a definitive agreement to acquire P&G’s beauty brands through a Reverse Morris Trust structure. The transaction will create one of the world’s largest beauty companies, with pro forma combined annual revenues of more than $9 billion based on fiscal 2015 performance, strengthening Coty’s leadership position in the global beauty industry.
Following the transaction with P&G Beauty Brands, Coty is expected to become the global leader in fragrances with market leading positions in color cosmetics and hair coloring & styling.
P&G Beauty Brands includes fragrance brands such as Hugo Boss and Gucci, and the color cosmetics brands COVERGIRL and Max Factor. The transaction also gives Coty an attractive new category in the beauty industry through the addition of P&G’s hair color business, led by Wella and Clairol.
Colgate asks women to put their health first
NEW YORK — Colgate Total is launching a social media campaign to encourage women to make healthy habits, and especially oral health, a priority.
The brand is encouraging consumers to share a "healthy selfie" on social media using #MyColgateSelfie and #NWHW. A "healthy selfie" is simply a photo of a person participating in any activity that contributes to overall health and wellness, whether it's enjoying a nutritious snack, getting in a quick yoga session, enjoying the outdoors with your family, or using Colgate Total to help improve your oral health.
"Too often women put their health on the backburner without even realizing it," said Philip Durocher, VP and GM, U.S. Oral Care Marketing, Colgate-Palmolive. "National Women's Health Week reminds women to put their health first."
The campaign from Colgate comes right before the start of National Women's Health Week, which runs May 8 through May 14. National Women's Health Week is led by the U.S. Department of Health and Human Services Office on Women's Health.
Trendy men’s brand Beard Guyz expands distribution
GLENDALE HEIGHTS, Ill. — Hot new men's beauty brand Beard Guyz is expanding its distribution to several drug stores and mass retailers.
The brand recently announced that Beard Guyz products are now available at Walgreens, Meijer, Target, Giant Food and other retailers nationwide.
Universal Beauty Products launched the Beard Guyz brand of men’s products last year, and consumer response to the brand has been positive and growing.
“There were relatively no products for taking care of beards,” Howard Brauner, VP of new product development at Universal Beauty Products said last year. “It was really an online cottage industry.
But with some studies showing that beards can be dirtier than toilets, Brauner knew he was onto something. The result was Beard Guyz, a complete regimen for beard care. The lineup includes Daily Wash 35 (the total number of ingredients in the formula), Deep Conditioner 25, Balm for Course Hair, Balm for Fine to Medium Hair and Beard Oil 25. The ingredients are high quality, natural and organic. All SKUs are priced at $14.99. The company plans to add a fragrance this year.