Nail-polish company OPI Products Inc. is in advanced talks with “several parties” to sell itself for at least $900 million, according to the Wall Street Journal. Coty Inc. is said to be a leading bidder for the company, which brought in an estimated $200 million in sales last year. Coty, who already owns about half of the nail world including Sally Hansen.
OPI was founded in 1981 by George Schaeffer, who is president and chief executive.
The company began as a dental-supply business that Mr. Schaeffer purchased, called Odontorium Products Inc. Finding that the materials used to make dentures were similar to what is used with acrylic nails, Mr. Schaeffer started formulating nail products, keeping the initials of the dental-supply company.
Until next time please have a great nail polish day. (✿◠‿◠)
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