OPI Acquired by Beauty Products Company

Nail polish manufacturer OPI Products Inc. has been acquired by beauty products company Coty Inc. for an undisclosed amount. The purchase of North Hollywood-based OPI adds more than 200 colors and another brand known around the world to Coty’s portfolio, company officials said. “This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers,” Coty CEO Bernd Beetz said. OPI will remain in North Hollywood and its management team, including President and CEO George Schaeffer, who founded the company in 1981, will continue in their roles. Since starting, OPI has built a solid foundation of innovation and excellence, Schaefer said. “We are confident that by joining Coty, this legacy will continue and be strengthened,” Schaefer added. “We are all excited about the next phase of opportunity for OPI.” Mark R. Madler