Coty Buys Lena White

(RTTNews) - Coty Inc. (COTY) said Monday that it has entered into an agreement to acquire Lena White Ltd., the largest international distributor of OPI, one of Coty's power brands.

For the past 30 years, Lena White has served as OPI's distributor in the UK for the professional and retail beauty channels.

Through the purchase, Coty will directly lead the development of the OPI brand in the UK, its second-largest market, providing the necessary resources to accelerate development in both retail and professional channels, where Coty will continue to leverage Lena White's strong management expertise.

"This acquisition is an important step in strengthening OPI's position in Europe," said Coty CEO Michele Scannavini.