Back to News
Mergers & Acquisitions

Deal Diary: Cooley, Skadden Spearhead Kardashian-Coty Partnerships

|
Published: June 30th, 2020
Cooley advises Kim Kardashian West and Kylie Jenner on their deals with Coty, which uses regular counsel Skadden.

In the past five years, Coty Inc. (COTY) has spent time reshaping its portfolio and shoring up liquidity with a recent interest in brands developed by the Kardashian-Jenner celebrity family. Along the way, Cooley LLP and Skadden, Arps, Slate, Meagher & Flom LLP have been there for each step on either side of the star-studded negotiating table.

On Monday, June 29, when Kim Kardashian West Beauty, the three-year-old company founded by Kim Kardashian, agreed to sell a 20% stake to Coty for $200 million, the two firms were involved.

Cooley’s David Young and Matt Hallinan advised Kim Kardashian West Beauty on the Coty deal. The pair advised Kim’s half-sister Kylie Jenner on a deal announced in November and closed in January where Coty paid $600 million for a majority stake in Jenner’s King Kylie LLC brand.

Coty tapped Sean Doyle, Alexandra McCormack and Paul Schnell of Skadden for counsel on both the King Kylie and KKW deals. The law firm advised Coty on a deal announced in May in which KKR & Co. (KKR) agreed to buy $750 million of convertible preferred shares in Coty and signed a memorandum of understanding to buy a majority stake in Coty’s Professional Beauty and Retail Hair Businesses including the Wella, Clairol, OPI and ghd brands at an enterprise value of $4.3 billion.

Editor’s note: The original version of this article, including more adviser detail and relationships, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Mergers & Acquisitions

Mergers & Acquisitions

TDE Middle Market: GM AGC Takes Quarterly Reporting to Task

By Tom Terrarosa
|
Published: July 31st, 2020
During a live event Thursday, June 30, at The Deal Economy: Middle Market Week, GM's Rick Hansen said he understands why companies don't want to report their earnings so frequently.
Mergers & Acquisitions

TDE Middle Market: Zoetis Sees Opportunity in Petcare, Diagnostics

By Nikitha Sattiraju
|
Published: July 31st, 2020
The humanization of pets is accelerating the demand for holistic animal care including wellness, prevention and specialty care, Zoetis head of global strategy Abhay Nayak said during a keynote at The Deal Economy: Middle Market Week.
Mergers & Acquisitions

TDE Middle Market: Covid Offers Opportunities for Cross-Border M&A

By Jonathan Braude
|
Published: July 31st, 2020
Lockdowns are making due diligence and building relationships harder, but the coronavirus crisis is also offering opportunities for both strategic and private equity investors, panelists said at The Deal Economy: Middle Market Week.