OPI Aquired by Coty Inc

   Happy December!  Is everyone else as busy as I am getting ready for the holidays?  Whichever holidays you might celebrate.  Time to stock up on the baking supplies and get those cookies cranked out.  And buy some gifts for people besides myself....ooops.
   If you didn't hear already, it was recently revealed that OPI was up for sale.  Well this week it was announced that Coty Inc, the owners of Rimmel, Sally Hansen, and many other brands, bought OPI.  Here is the press release about the acquisition.  This is all the information I have at this time, but if I get anymore I will be sure to let you know.  

COTY INC. TO ACQUIRE OPI PRODUCTS INC.

Coty Adds OPI Nail Lacquers and Nicole by OPI to Its Growing Color Portfolio

NEW YORK, November 29, 2010 — Coty Inc., a leading global beauty company, and OPI Products Inc., a leader in professional nail salon products, today announced that Coty has entered into an agreement to acquire OPI.

The acquisition will enhance Coty's color cosmetic portfolio, through the addition of over 200 fashion forward colors of OPI Nail Lacquer's chip-resistant formula, which has been an international success.  

"We view the acquisition of OPI as complementary to Coty and a natural extension of our strategy to offer a unique portfolio of brands that produce some of the best known consumer products around the world," said Bernd Beetz, CEO, Coty Inc. "OPI is both dynamic and high quality and has earned its place as a leading provider to professional nail care salons. This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers."

"We are very excited about having OPI join the Coty family. OPI has gained a place in consumer's minds in the US and internationally," said Renato Semerari, President, Coty Beauty. "It is one of THE fashion brands in Nail Color for salons and that is a very unique position to be in. OPI's success is the result of a very focused and high quality effort by the OPI team over the past decades. We are very excited to join forces with such a talented team to strengthen OPI even further in the future."

"It's time for a new era at OPI, and together with Coty we can begin this new journey," said George Schaeffer, President and CEO of OPI Products Inc. "For almost 30 years, we have built a solid foundation of innovation and excellence. We are confident that by joining Coty, this legacy will continue and be strengthened. We are all excited about the next phase of opportunity for OPI.  Our management team will continue on with the company and OPI's business strategy will remain focused on the salon professional."   

"OPI has a reputation for creating fashion-forward products that make women feel beautiful and Coty is a well-established trend setter in the beauty industry," said Suzi Weiss-Fischmann, the Executive VP & Artistic Director of OPI Products, Inc. "Together we will continue to push the envelope in beauty, color and trends."

Financial terms of the transaction were not disclosed. The transaction is also subject to customary regulatory approvals.

Moelis & Company served as financial advisor to Coty in connection with the transaction. Lazard Freres & Co. LLC acted as financial advisor to OPI. Gibson, Dunn & Crutcher LLP served as legal advisor to Coty in the transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to OPI.

About Coty Inc.

Coty was created in Paris in 1904 by Francois Coty who is credited with founding the modern fragrance industry.

Today, Coty Inc. is a recognized leader in global beauty with annual net sales of nearly $4 billion. Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty Inc. has developed an unrivaled portfolio of notable brands and delivers its innovative products to consumers in 90 markets worldwide.

The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein, Cerruti, Chloé, Chopard, Davidoff, Jennifer Lopez, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, La Voce by Renee Fleming , Lancaster, Marc Jacobs, Nikos, Sarah Jessica Parker, Vera Wang, Vivienne Westwood and Wolfgang Joop.

The Coty Beauty brand portfolio is more widely distributed and includes adidas, ASTOR, Baby Phat, Beyoncé Knowles, Celine Dion, Chupa Chups, David and Victoria Beckham, Esprit, Exclamation, Faith Hill, GUESS, Halle Berry, Jovan, Kate Moss, Kylie Minogue, La Cross, Lady Gaga, Miss Sporty, Nautica, N.Y.C. New York Color, Pierre Cardin¹ , Playboy, Rimmel, Sally Hansen, Stetson, Tim McGraw, and Tonino Lamborghini.

Coty and Puig Fashion and Beauty S.A. have a strategic partnership for the distribution of the perfume lines of Nina Ricci, Carolina Herrera, Prada, Paco Rabanne, and Antonio Banderas in the United States and Canada.

For additional information about Coty Inc., please visit www.coty.com.

(1) Not available in North America

About OPI Products Inc.

OPI Products Inc., one of the world’s leaders in professional nail care since 1981, has revolutionized the beauty industry by combining leading-edge innovation with trendsetting, fashion-forward colors. Under the leadership of OPI President & CEO George Schaeffer and Executive VP & Artistic Director Suzi Weiss-Fischmann, beautifully manicured nails are now seen as the essential fashion accessory.

Preferred by salon professionals and favored by red-carpet celebrities, OPI Nail Lacquer is currently available in 200+ shades. OPI Nail Lacquers contain no DBP, Toluene, or Formaldehyde, and feature a patented Lacquer bottle, ergonomic cap, and ProWide^® Brush designed for flawless application.

In addition to Nail Lacquer, OPI also offers an entire range of state-of-the-art quality products for hands, feet, and nails – with more than 30 Patents for the company’s innovative product ideas.

OPI has had a number of successful partnerships, including CW Network, DELL, DreamWorks Animation SKG, Inc., Justin Bieber, Katy Perry, Kristi Yamaguchi, Serena Williams, Sony Pictures Screen Gems, Susan G. Komen for the Cure^®, Walt Disney Pictures, and Warner Home Video.

For more information, call 800.341.9999 or visit www.opi.com.

 Now if you're an OPI fan on facebook or read lots of other blogs and boards, you are probably aware of the uproar from people about Coty Inc possibly using animal testing.  I'm not sure if they do or not.  Some sites list them as questionable as Coty Inc has not proven to the sites that they are cruelty-free.  Coty Inc has issued a statement found here that they do not use animal testing.  So I am going to stay neutral on the subject until definite proof is given one way or another.  Plus, OPI is cruelty-free and I personally don't see why they would change that just because they have a new parent company.  Maybe I'm being naive, but again until I get definitive proof to the contrary, I'm going to give OPI the benefit of the doubt about staying cruelty-free.