Gibson Dunn Reps Coty In Philosphy Purchase

Law360, New York (November 23, 2010, 2:55 PM EST) -- Coty Inc. has agreed to buy cosmetics company Philosophy Inc. from The Carlyle Group in a bid to expand its Prestige division with a deal reportedly worth about $1 billion.

Coty, which markets fragrances and other beauty products for designers and brands ranging from Adidas to Calvin Klein, said Tuesday that it expected to close its purchase of the specialty skin care products company by the end of the year. The transaction still requires regulatory approval.

The companies declined to disclose the financial terms of the...
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