Coty to Acquire Hypermarcas Beauty Business for About $1 Billion

Coty Inc. agreed to buy the personal care and beauty division of Brazil’s Hypermarcas SA for about $1 billion in cash, turning again to acquisitions to expand its burgeoning cosmetics line. The New York-based company will use a combination of debt and cash on hand to pay for the transaction, according to a statement on Monday. The Hypermarcas beauty business generated $253.5 million in revenue last year with brands such as Risqué nail polish and Paixão skin-care products.