, the European food and personal-care products giant, agreed to sell its prestige fragrance business, Unilever Cosmetics International, to Coty in a deal valued at $800 million.
The business includes the perfume licenses for Calvin Klein, Cerruti, Vera Wang, Chloe and Lagerfeld, as well as a manufacturing and distribution center in Mt. Olive, N.J., and a distribution center in Lille, France. Unilever employees will transfer to Coty with the business.
Sales for the global prestige fragrance business in 2004 exceeded $600 million, Unilever said. As part of the agreement, Coty may make further deferred payments to Unilever contingent on future sales.
Coty markets brands such as adidas, Davidoff, Jennifer Lopez, Lancaster, Kenneth Cole and Nautica.