By  on March 21, 2008

Mergers and acquisitions may be scarce these days, but Coty Inc. — the prolific fragrance house — has a hankering for buying.

The New York-based firm, which has a strong European sensibility, is looking for targets to fortify its color cosmetics and skin care businesses, and lessen its dependence on the troubled fragrance industry. The strategy also will catapult Coty to its goal of hitting the $5 billion mark by 2010.

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