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NEW YORK — According to published reports, the sale of Burt’s Bees is drawing nearer, with today serving as a deadline for bids for the cosmetics company. According to TheDeal.com, Burt’s Bees has narrowed its search to two bidders, New York buyout firms Forstmann Little & Co. and Vestar Capital Partners.
This story first appeared in the July 28, 2003 issue of WWD. Subscribe Today.
Forstmann Little and Vestar Capital could not be reached for comment by press time, although one published report cited Vestar as denying its interest in the company. Roxanne Quimby, president of the Raleigh, North Carolina-based company could not be reached for comment.
As reported in WWD on May 16, Burt’s Bees, a maker of natural cosmetics, lip balms and salves, has in the past several years strategically broadened their product categories to include color and more upscale skin care products, to make them more attractive as a complete beauty brand, said one source. Private financial groups were cited as the company’s most likely bidders.
The company generated as much as $90 million in sales in 2002, and could fetch as much as $200 million.
Burt’s Bees entered the beauty industry in the Nineties when company founders Quimby and Burt Shavitz discovered their all-natural candle wax business could be used as a base for beauty products. Today, Quimby, along with her two sisters, Renee and Rochelle, run the company, which sells Burt’s Bees in approximately 9,000 retailers nationwide.
P&G Promotes Beauty Execs
Procter & Gamble has promoted Marc S. Pritchard, vice president, global cosmetics and personal care, to president, global cosmetics and personal care. Paolo de Cesare, currently vice president, global prestige beauty and skin care, also has been promoted to president, global prestige beauty and skin care. A P&G spokesperson said the title changes were made “in recognition of their contributions to their individual businesses.” In other P&G news, on April 1, Sonsoles Gonzalez became vice president, hair care for North America. Prior to this position, Gonzalez was general manager, beauty care for Latin America. Gonzalez replaces Ravi Chaturvedi, who was named general manager, health and beauty care, for greater China.
Clairol Names Sawyer
Charlene Sawyer has been named North American Clairol Retail Color marketing director, effective Sept. 1. Sawyer replaces Paul Scoggins, who left the company for personal reasons. Sawyer’s responsibilities will include the planning, design and delivery of Clairol’s retail hair color business, which is based in Stamford, Conn. She will report to Rob Matteucci, president, Clairol. Prior to her new position, Sawyer worked for Procter & Gamble’s Pantene and Olay beauty brands.
Godin Goes to Caboodles
Caboodles Cosmetics has named Sarina Godin to the post of director of marketing and product development for the youth-oriented beauty firm. Godin will be in charge of marketing, product development and public relations for Caboodles, including its specialty brands, She She and C Me. She will be based in Vancouver and report to interim chief executive officer of Caboodles, Charles Beech. Beech stepped in after former president Gary Schofield departed in June. Although parent Plano Molding has put the company on the selling block, the appointment of Godin validates efforts to continue to inject newness into the brand. Godin was formerly senior director of product development at The Color Factory, a contract beauty manufacturer. Caboodles was one of the first companies to create cosmetics products specifically for teenage girls. The company hit obstacles in the past year as more and more marketers entered the teen fray at the same time retailers scaled back efforts of marketing cosmetics to young girls.
Revlon’s Ladies in Red
Revlon hosted an event Thursday night at Manhattan’s Loft Eleven to introduce its holiday collection, Red Rocks. The theme was “Revlon Rocks the Season” and spokesmodels Jamie King and Eva Mendes were on hand and wearing shades of the collection’s red lipstick.