-- Global Beauty Company Confirms Acquisition of StarAsia
NEW YORK, May 23, 2013 /PRNewswire/ -- Coty Inc., an emerging leader in global beauty, is pleased to announce its agreement to acquire StarAsia, an established distributor of beauty products in the markets of Southeast Asia (Cambodia, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Vietnam) from its current parent, Isibane Pte. Ltd. The transaction is expected to close in July 2013.
"The acquisition of StarAsia will provide us with an established distribution platform to sell our mass brands in key developing markets in the Southeast Asia region," said Mr. Michele Scannavini, CEO of Coty Inc. "We look forward to welcoming the StarAsia organisation into the Coty family, and I am confident that the talented team there will fit in very well at Coty."
Following the completion of the acquisition, the existing management team of StarAsia will continue to contribute towards the development of Coty's business in the region.
"StarAsia has succeeded in building a leading regional platform, with operations in seven countries in Asia and a strong track record of growth," said Mr. Noe Saglio, CEO of StarAsia. "We are delighted to become part of the Coty family, having been a business partner for more than 10 years. Our multicultural organisation combines international experience with local know-how, and we look forward to building on our leading market position under Coty's ownership."
For complete information on all of Coty's brands, please visit www.coty.com.
About Coty Inc.
Coty is an emerging leader in global beauty with net revenues of $4.6 billion for the fiscal year ended 30 June 2012. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, colour cosmetics and skin & body care products sold in over 130 countries and territories. Coty's product offerings include such global brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
For additional information about Coty Inc., please visit www.coty.com
Founded in 2001, StarAsia Group is a leading regional independent distributor of Beauty Personal Care FMCG brands in Fragrances & Toiletries and Cosmetics & Skincare. The Group is present in seven Asian markets and reaches consumers over 30,000 doors across Asia. StarAsia principals include Coty, P&G, L'Oreal, Clio, Marc Anthony.
SOURCE Coty Inc.