Coty sells remaining Wella stake to KKR for $750 million upfront cash
On December 18, 2025, a Coty subsidiary agreed to sell its remaining 25.8% stake in Wella to KKR-affiliated buyers for $750 million in cash plus a consideration loan note, and the right to 45% of proceeds from any further sale or IPO after KKR's preferred return. Coty expects a preliminary non-cash impairment charge of approximately $200 million in the quarter ending December 31, 2025, and says it plans to use most of the upfront cash to pay down debt.
Key points
- Buyer is Tides Holdco Limited, with KKR-affiliated entities; upfront consideration is $750 million in cash plus a consideration loan note.
- Coty will hold 45% of the ordinary shares of the buyer and has consent rights and a non-voting board observer seat.
- Coty expects a material non-cash impairment charge of approximately $200 million in the quarter ended December 31, 2025; the amount is preliminary.
- Coty says the Wella proceeds and free cash flow are expected to reduce financial net leverage to about 3x by the end of calendar 2025.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 19, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.