Coty Inc. has entered into an agreement to acquire UK distributor Lena White Ltd., The Wall Street Journal is reporting.
Lena White has served as the main distributor for Coty’s OPI brand in the UK for the past thirty years, supplying professional and retail beauty channels alike.
According to Coty, the move will allow the company to directly lead the development of the OPI brand in the UK and provide the necessary resources to improve development in both retail and professional channels.
“This acquisition is an important step in strengthening OPI’s position in Europe,” Michele Scannavini, CEO of Coty Inc. said “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”.
Source: The Wall Street Journal