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Industry buzz

Revlon to acquire Elizabeth Arden for US$ 870 million

Revlon is buying Elizabeth Arden for US$ 14.00 per share in cash, representing an enterprise value for Elizabeth Arden of approximately $870 million. The aim is to create a new leading global beauty company that could compete with rivals such as Estée Lauder and L’Oréal.

By bringing together two complementary and iconic brand portfolios, Revlon hopes to benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, in particular Asia and prestige cosmetics. Elizabeth Arden’s strong global reach in prestige distribution and travel retail will complement Revlon’s strength in mass and salons.

Revlon plans to build upon Elizabeth Arden’s ongoing transformation by further enhancing the brand, with even more vibrant and relevant product development and marketing, while carefully preserving its unique heritage within prestige,” said Fabian Garcia, President and Chief Executive Officer of Revlon.

© 2016 - Brazil Beauty News - www.brazilbeautynews.com

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