U.S. based fragrances and beauty products giant COTY Inc., controlled by Joh. A. Benckiser and private-equity firm Berkshire Partners LLC, is seeking seeking as much as $1.1 billion in IPO next month. Coty Inc. filed for an IPO before, after failing to gain control of Avon.
Including debt of $2.53 billion and cash, Coty would have an enterprise value of $8.47 billion, about 11 times earnings before interest, taxes, depreciation and amortization of $788.8 million in the 12 months through March 31, excluding the effects of restructuring and acquisition-related costs, according to data compiled by Bloomberg.
Coty, which holds perfume licenses for brands including luxury brands such asCalvin Klein, Marc Jacobs, Choloe and Vera Wang but also mid range brands such as Adidas, Lady Gaga, Beyonce – was founded in 1904 in Paris by famed parfumier Francois Coty.
The German Benckiser family also controls Labelux Group, based in Austria, set up 3 years ago, which today owns Jimmy Choo, Bally and Belstaff – all acquired within the past 2 years.
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