With its $12.5 billion dollar deal for 43 P&G brands barely in the rearview mirror, Coty has announced that it will acquire the personal care and beauty business of Hypermarcas S.A. for approximately $1 billion in cash. The purchase will put Coty in a strong position in the mass market in Brazil, identified as the world’s third largest beauty market. Hypermarcas had net revenues of more than $250 million in 2014, according to Coty, with an offering of brands that hold leading positions in the highly competitive Brazilian beauty and personal care market.

Coty says the Hypermarcas acquisition provides an excellent platform to integrate the existing small Coty business as well as the larger P&G specialty beauty business in Brazil.