Coty Inc., has announced that it will acquire a majority stake in Chinese skin care company TJoy Holdings Ltd. as it seeks to expand in the world’s most-populous nation.

The companies entered into a share-purchase agreement, according to a statement yesterday, which didn’t disclose the value of the deal. The Wall Street Journal on Dec. 3 reported Coty would announce a purchase of TJoy for about $400 million in cash and stock.

TJoy is the fourth acquisition closely-held Coty has announced in the past month, as it seeks to bolster its cosmetics business. Coty, which said sales rose 3 percent to 3.6 billion in its 2010 fiscal year, is increasing competition with L’Oreal SA in the Chinese market.

“The TJoy investment positions Coty as a major player in China, solidifying our position as a global beauty leader,” Coty’s CEO Bernd Beetz said in the statement.

Last week, New York-based Coty agreed to buy nail-care company OPI Products Inc., and the company is also buying beauty company Philosophy from private equity firm Carlyle Group and agreed to purchase German cosmetics firm Dr. Scheller Cosmetics AG. Financial terms for the acquisitions were not disclosed.