Today’s big beauty news is also some very big business news: Revlon has agreed to buy Elizabeth Arden in an effort to give it a “broader geographic footprint,” and have a presence in categories like skin care, color cosmetics and fragrances as well. Although best known for their prestige anti-aging lines, Elizabeth Arden also has licensing deals for celebrity fragrances such as Justin Bieber, Taylor Swift and Britney Spears.
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The deal is reportedly an all-cash deal of $14 a share, a 50 percent premium, valuing Elizabeth Arden at about $870 million.
“The combination will leverage Revlon’s scale across major vendors and manufacturing partners, improving distribution and procurement,” the companies said.
If all goes to plan, the deal is expected to be finalized by the end of this year.
