Revlon acquires Elizabeth Arden for $870m

Revlon has completed the acquisition of Elizabeth Arden for $870m.

The two companies manage brands including Revlon, Elizabeth Arden, Revlon ColorSilk, Revlon Professional, and American Crew, as well as celebrity fragrance brands Juicy Couture, John Varvatos, Wildfox Couture, Curve, Elizabeth Taylor, Britney Spears, Christina Aguilera, Giorgio Beverly Hills, and Jennifer Aniston.

The new company will operate with Revlon as the parent company and will be listed under the New York Stock Exchange.

In June, 2016, Revlon agreed to acquire all Elizabeth Arden shares at $14.00 per share in cash, which values the company at $870m. The shareholders of Elizabeth Arden approved the acquisition.

The newly-combined company president and CEO Fabian Garcia said: “The combination of two iconic companies creates a multi-brand, global beauty enterprise and tremendous opportunity for long-term growth and value creation. 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 organisation with net sales of approximately $3bn, 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 realised on a stand-alone basis.”

Revlon also noted that Fabian Garcia will continue as the president and CEO of Revlon and Scott Beattie. CEO and chairman of Elizabeth Arden E. Scott Beattie is expected to join the board of Revlon as a non-executive vice-chairman and advisor to Garcia.

The new organisation will retain the rest of Elizabeth Arden’s executive leadership team, which will report to Garcia.