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Coty Closing In On Deal With Del Labs

Coty is close to taking over Del Labs--which makes Orajel oral analgesic and cosmetics, such as Sally Hansen nail polish--in a deal in the range of $800 million, according to sources close to the negotiations.

The strength of the Orajel brand justifies half the price tag, even though it accounts for less than half of Del's sales, one of the sources says. Officials for the companies declined to comment.

Coty is the world's biggest fragrance company, with sales of $2.9 billion for the 12 months ended in June 2006. The closely held company's products include Sarah Jessica Parker-branded perfume and the Davidoff line of cologne for men. Del is owned by Kelso & Co., a private-equity firm that bought it for $465 million including debt in 2004.



Read the whole story at The Wall Street Journal »

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