US beauty giant looks to straighten out £400m-plus deal

GHD, the haircare company whose hair straighteners enabled its customers to have a “good hair day” when styling at home, is on the verge of being bought for more than £400m.

US beauty group Coty, which owns Wella, Rimmer and Clairol, is in “advanced talks” to buy the Leeds-based company, Sky News has reported.

GHD was put up for sale earlier this year and has attracted plenty of interest. The weakening of Sterling since the EU referendum has also helped make UK companies more attractive to overseas investors.

Lion Capital bought GHD Hair Group in 2013 for a reported £300m from Montagu, which had nearly doubled its money in the six years it owned the business.

The group turned over £167m in the year to June 2015, its most recent published accounts. Annual sales were at £150m when Lion took ownership.