Hypermarcas sells cosmetics business to Coty for 3.8 billion R$

Hypermarcas closed today the sale for the Coty manufacturing business and marketing of cosmetics by 3.8 billion R$. Payment shall be made until the second quarter of 2016.
The cosmetics business generated in 2014 revenues of R$ 977.5 million, or about 20% of the total net revenue of the company in the period.
The area of cosmetics includes brands like Bozzano, Biocolor, Monange, Risqué, Passion and carrot & Bronze, among others. Not part of the disposable products business and the company's childcare, composed of children's diapers and incontinence, as well as preservatives, sweeteners and dermacosmetics.
The funds from the transaction will be used mainly to reduce net indebtedness Hypermarcas.
According to the company, the deal will mark a step transformer for Hypermarcas, whose strategic focus will be directed to the pharmaceutical market, which offers attractive potential of growth and profitability in the long term.
The Coty owns brands of perfumes like Adidas, Calvin Klein and Marc Jacobs and advances in acquisition of consolidated names in recent years. In 2010, acquired the manufacturer of OPI and the brand of skincare products Philosophy. In 2012, the proposed $ 10 billion for the Avon was refused by the American company of direct sales.
This year, Coty bought American Procter & Gamble (P&G) 43 brands of beauty for $ 12.5 billion. The deal included with hair care products, professional cosmetics and fragrances, coloring.