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May 20, 2005
WASHINGTON, D.C., May 20, 2005 - Covington & Burling advised Coty Inc. on the acquisition of Unilever's global prestige fragrance business, Unilever Cosmetics International (UCI). According to the terms of the agreement, Coty will purchase the business for $800 million in cash at the closing.
Coty Inc. is one of the largest beauty companies in the world, with operations in more than 25 countries. Calvin Klein, Cerruti, and Vera Wang are among the perfume licenses owned by UCI.
The Covington team was led by Scott Smith and included Philipp Tamussino, Andrew Muratore, Thomas Kollar, and Nicole Emch. Harry Hives and Robert Heller handled the tax aspects; Robert Newman and Chris Walter handled the employment and benefit matters; Andrew Baraff and Heather Haberl worked on real estate matters. George Chester and David Hull are handling the antitrust matters and Bert Wells is working on intellectual property aspects. The team included lawyers from Covington's New York, Washington, London, and Brussels offices.