Coty buys distributor Lena White in bid to bolster UK development
Global beauty company Coty Inc. has announced that it has entered into an agreement to acquire British company Lena White Ltd., the largest international distributor of nail brand OPI.
For the past 30 years, Lena White has served as OPI's distributor in the UK for the professional and retail beauty channels. Through this purchase, Coty will directly lead the development of the OPI brand in the UK, its second-largest market, providing the necessary resources to accelerate 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," said Michele Scannavini, CEO of Coty Inc. "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."
For its end-of-year period to 30 June 2013, Coty generated 4.6 billion dollars in revenue.
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