Coty has announced that, as part of an ongoing share repurchase strategy, the Company has agreed to purchase 27,892,818 shares of Class B Common Stock owned by investment funds affiliated with Berkshire Partners and Rhone, representing all the shares of Class B Common Stock they will own on the purchase date.

Coty will purchase the shares at a price of $16.7779 based upon the previous five day volume weighted average price. The total consideration for the 28 million shares will be $468 million. Pursuant to this transaction, Brad Bloom from Berkshire and Steve Langman from Rhone will resign their positions on the Board of Directors, and the Coty Board will comprise eight members.

Patrice de Talhouet, CFO, Coty, stated:

“We believe repurchasing our shares is a prudent use of our cash and are pleased to extend Coty’s record of returning value to shareholders through continued share repurchases. This repurchase of shares is in addition to our recently announced $200 million incremental share repurchase program authorized by our Board, and demonstrates our ongoing confidence in Coty’s strategy to generate long-term profitable growth and strong cash flow.”

Steve Langman, Managing Director at Rhone, said:

“Over the past three and a half years, we have been honored to partner with Coty on its path to becoming a leader in the global beauty industry as it built a growing presence across new product categories and emerging markets around the globe. While we now exit our shareholding as the company has completed its transition from the private to public capital markets commensurate with our original investment horizon, we continue to believe in the strength and creativity of its management team and growth potential of its brands. We thank Coty and its board for this extraordinary opportunit