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Revlon to acquire Colomer Group for $660m

RBR Staff Writer Published 06 August 2013

Revlon Consumer Products, a wholly-owned subsidiary of Revlon, has signed a definitive agreement to acquire all of the stock of The Colomer Group, a Spanish beauty products manufacturer and distributor, from CVC Capital Partners for $660m.

The Colomer Group manufactures and distributes beauty products to beauty professionals and consumers.

Revlon believes that the deal will complement its core business, expands distribution into new channels, as well as provides cost synergy opportunities.

Revlon intends to finance the acquisition using funds underwritten by Citigroup Global Markets.

Revlon president and chief executive officer Alan Ennis said, "We plan to capitalize on TCG's extensive geographic and channel distribution, and leverage our collective innovation capability and leadership as we seek to drive growth across our expanded portfolio of brands."

The transaction is expected to complete in the fourth quarter of 2013.

Revlon is a global manufacturer and marketer of personal care products and cosmetics. The company offers products under the brands of Revlon, Almay, Charlie, Jean Nate, Ultima II, Gatineau and Mitchum among others.

Revlon has operations in 15 countries, including the US, and markets products in over 100 countries.