Elizabeth Arden is known for its luxury skincare products, especially anti-ageing ranges, while Revlon is stronger in hair colour and colour cosmetics
US cosmetics company Revlon has agreed to buy Elizabeth Arden in an $870m (£611m) deal, which will bring together Revlon’s hair colour products with its rival’s anti-ageing creams and celebrity fragrances.
The move will create a cosmetics giant with annual sales of $3bn. It comes less than six months after Revlon’s main shareholder and chairman, billionaire Ron Perelman, considered putting the company up for sale. The New York-based firm has been struggling under its heavy borrowings and the deal will help it refinance the debt.
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