Revlon Inc. bolstered its brand portfolio Monday, buying the trademarks and intellectual property of nail enamel line Pure Ice and cosmetics brand Bon Bons from Bari Cosmetics.
This story first appeared in the July 3, 2012 issue of WWD. Subscribe Today.
Cosmetics maven Donald Harkness launched the brands in the early Eighties.
To pay for the deal, which was revealed in a Securities and Exchange Commission filing, Revlon used $22 million of its revolving credit facility as well as an unspecified amount of cash.
The firm did not disclose the pro forma results of operations since the impact of the two businesses on its consolidated financial results would not have been material.
The deal comes 16 months after Revlon bought Mirage Cosmetics; primarily for its brisk-selling Sinful nail enamels. Sinful, one of the top-selling color brands in Walgreens, gave Revlon entry into the fashion color segment of the nail polish market. Revlon maintains Sinful as a separate part of its business.
Industry sources said it was Pure Ice in particular that caught Revlon’s eye. Sold primarily online and in Wal-Mart, the nail color brand was launched at the height of the teen cosmetics craze as an avenue for mass merchants to offer edgy colors at a value price.
Revlon might choose to operate the Pure Ice business out of the same division that oversees Sinful.
Having the two brands could help Revlon grab shelf space in stores that don’t carry Sinful because of competitive overlap with Walgreens.
Calls to Bari headquarters were not returned by press time.