- Coty Inc. (NYSE:COTY) announces that it entered into a partnership with online platform Founders of Younique.
- The deal is set up for Coty to acquire 60% of Younique for ~$600M.
- Younique founder and current CEO Derek Maxfield will continue to lead the business under the new partnership.
- The transaction is expected to close during Coty’s FQ3.
- The company says the partnership is expected to be immediately accretive to Coty’s top-line growth, EBITDA margin and FY17 earnings.
- Source: Press Release