Revlon completes Colomer acquisition
Will provide distribution into new channels for the US company
Revlon Consumer Products Corporation, a wholly owned operating subsidiary of Revlon Inc., has announced the completion of its acquisition of The Colomer Group (TCG), including the Revlon Professional, Intercosmo, Orofluido and UniqOne hair care businesses, for a cash purchase price of $665m. Spain based TCG primarily sells professional products to salons but also sells certain brands directly into retail channels. The deal expands Revlon's geographic scope, as approximately 50% of the acquired business's net sales are in Europe, the Middle East and Africa.
Commenting on the completion of the acquisition, David Kennedy, Interim Chief Executive Officer at Revlon, said: “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.”
