Coty to buy Good Hair Day for $510 millionStaff Writer | October 17, 2016
Coty will acquire ghd, a premium brand in high-end hairstyling appliances from Lion Capital for approximately ₤420 million ($510 million) in cash.
Acquisition A combination of cash on hand and available debt facilities
The addition of ghd’s market-leading and high-performance lines of hair straighteners, hairdryers, curlers and other hairstyling appliances is expected to further strengthen Coty’s worldwide leading position in the professional hair category.
ghd products represent the top of the range in its category, attracting strong loyalty with both professionals and consumers.
Coty also aims to accelerate ghd’s strong track record of growth through its channel and category capabilities combined with ghd’s strong innovation pipeline, superior technology and robust technical expertise.
ghd, which stands for “Good Hair Day,” generated ₤178 million in revenues in fiscal year 2016. ghd is headquartered in London and has commercial operations in the United Kingdom, Australia, the United States, Germany, France, Spain, Italy and several other markets.
The company has been expanding from its core salon channel into premium retail and e-commerce. ghd will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team.
Anthony Davey will report to Sylvie Moreau, President of Coty Professional Beauty. ■