Coty has completed its acquisition of Bourgeois Paris cosmetics from Chanel in exchange.

Rather than a financial transaction taking place, Coty has acquired Bourgois in exchange for Chanel gaining 15.43 million shares in Coty’s corporate equity ownership.

Founded in 1863 by French actor Joseph-Albert Ponsin, Bourjois has a portfolio of colour cosmetic products that are sold through approximately 23,000 points of sale in more than 50 countries around the world, including regions such as Western Europe, the Middle East and Asia.

Coty is a leading beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2014. Founded in Paris in 1904, Coty’s portfolio includes global brands such as adidas, Calvin Klein, Chloe, DAVIDOFF, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. The firm sells fragrances, colour cometics and skin & body care products sold in over 130 countries and territories.