Cosmetics company Coty Inc., the maker of Calvin Klein fragrances, (NYSE: COTY) is buying Hypermarcas SA’s beauty and personal care business for about $1 billion in cash.

The target’s assets include the Monange, Risque, Bozzano, Paixao and Biocolor brands that make nail polish, female deodorant and hair color. The division has about $253.5 million in annual revenue. Coty will fund the purchase with cash on hand and debt.

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