Chanel is now Coty Inc.’s latest investor.
On Tuesday, Coty said it has completed the acquisition of the Bourjois color cosmetics brand from Chanel for approximately 15.43 million shares of Coty’s Class A Common Stock. The all-share deal is valued at roughly $365 million based on Coty’s current stock price, and gives the French luxury powerhouse about a 4 percent stake in Coty.
It also connects two billionaire families — the Wertheimers of Chanel and the Reimanns of Germany.
Bourjois is positioned as a masstige makeup brand that is sold in approximately 23,000 doors across 50 countries, with strongholds in Western Europe, the Middle East and Asia.
The brand was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.