Perfume maker Coty Inc agreed to buy Philosophy Inc., a maker of personal care products, for about $1 billion.

Philosophy is currently owned by private equity company Carlyle Group, Reuters said.

Philosophy focuses on skin products, fragrance, bath and body care and color cosmetics. Its products are sold at retailers including QVC and Nordstrom. The company is expected to post sales of more than $200 million in 2010.

Coty is the world's largest fragrance company, and holds brands including Calvin Klein, Kenneth Cole and Davidoff.

Carlyle bought Philosophy in March 2007.


Increase your money and finance knowledge from home

Introduction to ETFs

The basics of Exchange Traded Funds and why ETFs are hot.

View Course »

Goal Setting

Want to succeed? Then you need goals!

View Course »

Add a Comment

*0 / 3000 Character Maximum