Coty to Buy Unilever's Perfume Business

From Associated Press

Coty Inc., one of the world's top perfume and cologne makers, said it was buying Unilever's fragrance business for $800 million. The acquisition would include Calvin Klein and other lines such as Vera Wang and Chloe.

Privately held Coty, based in New York, is looking to rank among the five largest beauty products companies worldwide and said adding Unilever's business, with sales of more than $600 million last year, would help it reach that goal.

Consumer products giant Unilever, the Anglo-Dutch maker of Ben & Jerry's ice cream, Lipton drinks and Dove soap, has been whittling down its portfolio of brands to concentrate on food and personal care.

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