Revlon completes acquisition of Elizabeth Arden
By Canadian Packaging staff
General beauty company acquisition Elizabeth Arden RevlonTransaction creates an even stronger global beauty company.
NEW YORK—As of September 7, 2016, Revlon, Inc. has officially concluded its acquisition of Elizabeth Arden, creating a global beauty company with a strong portfolio of leading brands that includes: Revlon, Elizabeth Arden, Revlon ColorSilk, Revlon Professional, and American Crew, along with designer, heritage and celebrity fragrance brands such as: Juicy Couture, John Varvatos, Wildfox Couture, Curve, Elizabeth Taylor, Britney Spears, Christina Aguilera, Giorgio Beverly Hills and Jennifer Aniston.
The combined company will continue to operate with Revlon, Inc. as the parent company, which will continue to be listed on the New York Stock Exchange under the REV ticker symbol.
“The combination of two iconic companies creates a multi-brand, global beauty enterprise and tremendous opportunity for long-term growth and value creation,” says Fabian Garcia, president and chief executive officer of the newly-combined company. “We expect to benefit from greater scale, an expanded global footprint and a significant presence across all major beauty categories and channels. As a combined organization with net sales of approximately $3 billion, this acquisition will help to further accelerate our growth trajectory, position us among the top beauty players and unlock far greater upside than either company would have realized on a stand-alone basis.”
Garcia continues, “I want to thank Scott Beattie, chairman and chief executive officer of Elizabeth Arden for his leadership during the transition, and for his role in helping us bring our companies together. Our immediate focus will be to deliver our financial objectives for the remainder of 2016, effectively integrate the two organizations and develop the combined company’s long-term corporate and portfolio strategy that will guide the choices we make and the realization of our full potential.”
Revlon will continue to be led by Garcia as president and chief executive officer, while Beattie is expected to join the Revlon Board of Directors as non-executive vice-chairman, and as an advisor to Garcia. The interim organization structure will have the rest of Elizabeth Arden’s executive leadership team reporting directly to Garcia, immediately following the close of the transaction and the balance of the operating structure will continue largely unchanged for the remainder of 2016, in order to ensure delivery of each business’s operating plans.
About Revlon, Inc.
Revlon has developed a long-standing reputation as a color authority and beauty trendsetter in the world of color cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden portfolio of brands, including its leading designer, heritage and celebrity fragrances.
Today, Revlon’s diversified portfolio of brands is sold in more than 130 countries around the world in most retail distribution channels, including mass, salon and prestige. Revlon ranks among the top 20 global beauty companies. Visit www.revlon.com for the latest news and information about Revlon and its brands.
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