October 17, 2016 / 11:42 AM / 10 months ago

Coty to buy London-based hairstyling appliances maker ghd

Oct 17 (Reuters) - Beauty products maker Coty Inc said it would buy ghd, a high-end hairstyling appliances brand, from private equity firm Lion Capital LLP for about 420 million pounds ($522 million).

London-based ghd, whose name stands for "good hair day," generated 178 million pounds in revenue in fiscal year 2016.

The all-cash deal, which is expected to close by the end of 2016, is expected to immediately add to Coty's earnings, the company said on Monday. ($1 = 0.8042 pounds) (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila)

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