NEW YORK (AP) -- Beauty company Coty Inc., known for fragrances by Jennifer Lopez and others, is buying nail polish maker OPI Products Inc. in a move that further expands its product offerings.
Terms were not disclosed, the company said Monday.
The acquisition will allow Coty to tap into OPI's more than 200 chip-resistant nail polishes and provides access to professional salons, which OPI distributes to.
The transaction comes amid a flurry of buyout announcements by Coty. Last week, the New York-based company said it would buy skincare and cosmetics company Philosophy from private equity firm Carlyle Group for an undisclosed sum. Prior to that, Coty said it would purchase Dr. Scheller Cosmetics AG from Russian cosmetic company Kalina Group. Terms of that deal were not revealed either.
Coty, founded in 1904, has annual net sales of almost $4 billion. It provides a number of fragrances and other beauty products and has deals with celebrities including Sarah Jessica Parker, Vera Wang, Gwen Stefani and Faith Hill. Coty provides nail polishes under brands including Sally Hansen and NYC New York.
OPI is based in North Hollywood, Calif.
