ghd sold to Coty!
Coty announces its acquisition of ghd from Lion Capital LLP for approximately £420 million As its 15th anniversary year draws to a close, ghd celebrates its new home with Coty. The addition of ghd’s market-leading and high-performance lines of hair stylers, hairdryers and hairstyling appliances is expected to further strengthen Coty’s worldwide leading position in the professional hair category.
Founded in the UK, ghd is deeply rooted in the UK market with its headquarters in London. The £178 million revenue in 2016 comes from dominant commercial operations in the United Kingdom, Australia, New Zealand, the United States, Germany, France, Spain, Italy and several other markets. 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. Anthony Davey, ghd CEO; "This is a fantastic opportunity for the ghd brand and its team. The combined expertise and capabilities of ghd and Coty will be a powerful force of innovation in the hair business. Together, we will further excite and delight our existing salon partners, clients and consumers, and attract many new ones across the world.”
Commenting on the news, Camillo Pane, Coty Chief Executive Officer, said: "We are pleased to bring ghd’s highly skilled management team and its employees into Coty as we continue to strengthen our core business through the addition of innovative market-leading brands and products. ghd has beautifully designed and superior performing products and is the preferred choice for discerning professionals and consumers alike. Not only do we expect ghd to strengthen our professional hair portfolio and enable Coty to provide even better hair solutions, but we also believe there is strong growth potential for ghd across several markets.”
Sylvie Moreau, President of Coty Professional Beauty, added: "This move underlines Coty’s commitment to continually elevate professional beauty and serve salon professionals and their clients with standard-setting products and services. I am delighted to see these three iconic salon brands – Wella, OPI and ghd – come together under the Coty Professional Beauty division.”