Revlon Consumer Products Group said Wednesday that it has completed the acquisition of The Colomer Group, including the Revlon Professional business, for $665 million in cash after purchase adjustments.
TCG is a beauty care company with about $500 million in annual net sales that “markets and sells professional products primarily to salons and other professional channels not currently served by Revlon,” Revlon said.
Key brands acquired as part of the deal include Revlon Professional, Intercosmo, Orofluido, and UniqOne hair care brands; CND nail polishes and enhancements, including the Shellac innovation; and American Crew men’s grooming range. According to Revlon, TCG also sells certain brands directly to retail channels, including Natural Honey body lotions and Llongueras hair care and operates a multi-cultural hair-care business under the Crème of Nature brand.
The pact expands Revlon’s geographic scope with about 50 percent of the acquired business’s net sales in Europe, Middle East and Africa and roughly 40 percent in the U.S., the cosmetics firm noted.
“The acquisition substantially expands our business, providing distribution into new channels and meaningful cost synergy opportunities. In addition, it offers opportunities for profitable growth by leveraging our enhanced innovation capability and know how,” said David Kennedy, Revlon interim chief executive officer. “We expect the acquisition to be accretive to cash flow and earnings in the first year.”