Carlyle Exits Philosophy in $1 Billion Deal

Perfume maker Coty will buy Philosophy from private equity firm The Carlyle Group in a deal valued at $1 billon, Reuters has reported. Philosophy, which makes personal care products and cosmetics, was acquired by Carlyle in 2007. Privately held Coty is the world’s largest fragrance company, and will use the acquisition to expand its Coty Prestige unit, Reuters said.

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