Beauty products manufacturer GHD set for £400m takeover

US cosmetics giant Coty is on the cusp of sealing a multi-million pound deal to acquire British hair products manufacturer GHD.

The New York-headquartered firm is reportedly in advanced talks to acquire GHD for upwards of £400m.

Coty, which owns beauty brands such as Wella, Rimmer and Katy Perry, recently completed the $12.5bn (£10.28bn) acquisition of consumer goods firm Procter & Gamble’s beauty business.

According to a Sky News report, the GHD deal could be announced as early as this month.

If an agreement is reached, the purchase would bring together products featuring the names of one of the most famous celebrity couples; Coty’s brand portfolio includes products featuring footballer David Beckham’s name, while the fashion business of former Spice Girl Victoria Beckham has an existing deal with GHD.

GHD was made available for sale earlier this year by private equity firm Lion Capital, which owns the company.

Now a global beauty products manufacturer GHD, which stands for ‘good hair day’, was founded in 2001 by three entrepreneurs from Bradford, West Yorkshire.

In its 2015/16 year, the company made a pre-tax profit of £33.7m on sales of £181.2m.

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