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Revlon Targets Prestige Channel, Fragrance Growth With Elizabeth Arden Buy

 
• By Jamie Hammon

Firm’s $870m acquisition of Elizabeth Arden is seen as “highly complementary,” bringing prestige skin care and scalable fragrance licenses to its existing business focused on mass and salon beauty and hair care. The deal also offers synergies and cost-reduction opportunities for both companies, which have struggled in recent years to rejuvenate their businesses.

With its acquisition of Elizabeth Arden, Inc., Revlon, Inc. aims to bring resources to the firm’s licensed fragrance brands that have been under-supported to date and build on its prestige skin-care business, while capitalizing on an estimated $140m in multiyear synergies and cost reductions.

Announced June 16, the $14-per-share cash deal values Arden at around $870m when its debt is factored in, and is

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