Women’s Wear Daily this morning reported that Perfume maker Coty Inc agreed to buy Philosophy Inc., a maker of personal care products, for about $1 billion. Philosophy is currently owned by private equity company Carlyle Group, which had purchased the company in 2007.

I’m a HUGE Philosophy fan and have been for years and years, so this news is good, but I’m really concerned about the formulas staying the same. I can’t live if living is without the brand’s Supernatural Superbeautiful Good-for-skin Makeup SPF 20. It’s like being Photoshopped in real life. Also, not a Monday has passed without my using their The Micro Delivery Peel. The brand’s products are sold at retailers including QVC and Nordstrom. The company is expected to post sales of more than $200 million in 2010.

Coty is the world’s largest fragrance company, and holds brands including Calvin Klein, Kenneth Cole and Davidoff.

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