Unilever (UL) and Henkel (HENKY) and certain buyout funds including Advent and Cinven are in discussions with Coty (COTY) to submit offers to acquire some of its most popular beauty brands, Reuters' Pamela Barbaglia and Arno Schuetze report, citing three sources. Coty is expected to initiate an auction process next month to find a new owner for a portfolio of professional hair and nail care brands, the authors say. The collection of brands, which includes Wella, Clairol, GHD, and OPI, is worth up to $7B and has garnered interest from both industry players and financial investors, the authors note. Colgate-Palmolive (CL) is among a number of consumer goods corporations eyeing add-on deals to grow their skin care businesses, the authors say. Reference Link