Revlon wraps up Colomer Group acquisition
Revlon’s wholly owned operating subsidiary, Revlon Consumer Products, completed its previously disclosed acquisition of the Colomer Group, including the Revlon Professional business, for a cash purchase price of $665 million.
The Colomer Group is a beauty care company with approximately $500 million in annual net sales. Key professional brands acquired as part of the transaction include Revlon Professional, Intercosmo, Orofluido and UniqOne hair care brands; CND nail polishes and enhancements; and American Crew men's grooming range. This acquisition expands Revlon's geographic scope with approximately 50% of the acquired business' net sales in Europe, Middle East and Africa, and approximately 40% in the United States.
“We are excited about the acquisition of TCG, which provides Revlon with broad brand, geographic and channel diversification. The acquisition substantially expands our business, providing distribution into new channels and meaningful cost synergy opportunities. In addition, it offers opportunities for profitable growth by leveraging our enhanced innovation capability and know how. We expect the acquisition to be accretive to cash flow and earnings in the first year," said David Kennedy, interim CEO of Revlon.