NEW YORK — Coty Inc. has reached an agreement to acquire StarAsia, a distributor of beauty products in the markets of Southeast Asia — Cambodia, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Vietnam — from Isibane Pte. Ltd.
Financial terms of the deal, which is expected to close in the summer, were not disclosed.
"The acquisition of StarAsia provides us with an established distribution platform to sell our mass brands in key developing markets in the Southeast Asia region," stated Michele Scannavini, CEO of Coty. "We are happy to welcome the StarAsia organization into the Coty family, and I am confident that the talented team there will fit in very well at Coty."
The existing management team of StarAsia will continue to lead the development of Coty`s business in the region.
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