Divestiture closed
Coty acquires CoverGirl and 3 other brands (2016)
Coty completed the acquisition of CoverGirl and 3 other brands on 1 October 2016 for $12.5 billion, buying from Procter & Gamble.[1]
Procter & Gamble transferred 41 beauty brands, including CoverGirl, Max Factor, Clairol and Wella, to Coty in a Reverse Morris Trust structured to be tax-efficient for P&G shareholders. It was the largest single step in P&G's programme of cutting its portfolio from about 170 brands to 65.
Deal facts
- Announced
- Closed
- Value
- $12.5 billion (enterprise value)
- Buyer
- Coty
- Seller
- Procter & Gamble
- Assets
- CoverGirl, Max Factor, Clairol, Wella Professionals
- Regulatory review
- None recorded
Ownership changes recorded from this deal
| Owner | Owned | Relationship | Stake | From | To |
|---|---|---|---|---|---|
| Coty | CoverGirl | owns | 100% | 2016-10-01 | present |
| Coty | Max Factor | owns | 100% | 2016-10-01 | present |
| Coty | Clairol | owns | 100% | 2016-10-01 | present |
| Procter & Gamble | CoverGirl | owns | 100% | 1989-11-30 | 2016-10-01 |
| Procter & Gamble | Max Factor | owns | 100% | 1991-01-01 | 2016-10-01 |
| Procter & Gamble | Clairol | owns | 100% | 2001-11-16 | 2016-10-01 |
| Procter & Gamble | Wella Professionals | owns | 100% | 2003-09-02 | 2016-10-01 |
Who owns these brands today?
- CoverGirl — owned by Coty since 2016
- Max Factor — owned by Coty since 2016
- Clairol — owned by Coty since 2016
- Wella Professionals — owned by KKR since 2021
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Coty Inc. Annual Report on Form 10-K — SEC EDGAR, SEC Form 10-K; retrieved 6 September 2026.
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