KKR, the US private equity titan, has been making its presence felt in Australia for the past six months.
In November, the multinational bought Arnott’s, the historic biscuit company, for AUD$3.2 billion.
The last two contenders in the race were Henkel, the German multinational, and KKR.
The private equity firm has acquired a majority stake of 60 per cent in Coty’s Professional Beauty business for US$4.3 billion.
Coty will retain a 40 per cent interest of its haircare operations, which are ranked number two in the world after L’Oréal.
According to Susan Babinsky, senior vice-president at Kline & Co, the leading market researcher and analyst: “If a deal had been reached by the end of 2019, the outcome likely would have been different.”