Revlon Decides To Change Up Its Beauty Routine, Buys Elizabeth Arden For $870M

What’s a global beauty brand to do when it’s time to get a new look? Revlon decided to go shopping for something to change up its routine, picking up fellow cosmetics company Elizabeth Arden in a deal worth $870 million.

Revlon will acquire Elizabeth Arden for $419 million, for a total of about $870 million when debt is factored in, the company said.

The move is seen as a chance for both brands to freshen things up a bit, after having lost some ground with consumers recently. Elizabeth Arden has products that come with famous faces like Taylor Swift, Nicki Minaj, and Justin Bieber, which Revlon hopes will help broaden the newly combined companies’ appeal and revive sales.

“We see great opportunities for growth where they are strong and we are not,” Revlon Chief Executive Officer Fabian Garcia said on a conference call, via Bloomberg, adding that the deal will allow Revlon to expand into fragrances and skin care.

“Combining our brands, talent, and global distribution will give our company a significant presence in all major channels and categories, while accelerating sales growth in existing and new geographic regions,” Garcia said in the company’s press release. “We look forward to bringing together our two top-notch teams to form a global leader in beauty.”

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